Berkshire Hathaway Unit Drops Jones Day Conspiracy Suit

Law360 (October 16, 2020, 4:52 PM EDT) -- A Berkshire Hathaway unit is voluntarily dropping its lawsuit against Jones Day alleging the law firm was part of a conspiracy to trick it into overpaying for a piping manufacturer and related businesses that were effectively on the verge of bankruptcy.

Precision Castparts Corp. sued Jones Day in Texas' Harris County District Court on Sept. 24, months after securing a related €643 million ($755.1 million) arbitral award, accusing the law firm of working to obscure the true financial state of Schulz Holding GmbH & Co. KG and related entities. But on Thursday, Precision notified the court it would nonsuit the claims...

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