Judge Approves Pilot Settlement

U.S. District Judge James M. Moody yesterday gave Pilot Flying J a major boost in its efforts to get past a financial scandal, approving a nearly $85 million settlement between Pilot and hundreds of trucking companies that allege they were shorted on diesel fuel rebates. Under terms of the deal Pilot will pay approximately $56.5 million in principal owed to customers, $9.75 million in interest and $14 million in attorneys’ fees for the settlement class counsel. Monday’s hearing took less than 30 minutes. Moody described the settlement as fair, reasonable and adequate, though more than 50 companies have opted out of the settlement and many of those have filed separate legal actions against the company. Knoxnews has more on the court proceeding.