Jones Day Accused Of Duping Berkshire Hathaway Unit

Law360 (September 29, 2020, 6:32 PM EDT) -- A Berkshire Hathaway unit has contended in Texas state court that Jones Day was part of a conspiracy to trick it into overpaying for a German piping manufacturer and related businesses that were effectively on the verge of bankruptcy.

Months after securing a related €643 million ($755.1 million) arbitral award, Precision Castparts Corp. alleges in the complaint filed Thursday in Harris County, Texas, that the law firm worked to obscure the true financial state of Schulz Holding GmbH & Co. KG and related entities.

Amongst the issues cited by Precision, Jones Day failed to disclose documents that would have revealed Schulz's liquidity crisis, it drafted false disclosures...

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