A bunch of the companies involved in Warren Buffett's $1 billion NCAA contest last year ended up suing each other

North Carolina Tar Heels Notre Dame Fighting Irish fight ballEvan Pike-USA TODAY SportsNorth Carolina Tar Heels forward Brice Johnson (11) and guard/forward Justin Jackson (44) and Notre Dame Fighting Irish forward Bonzie Colson (35) and guard/forward Pat Connaughton (24) go for a loose ball in the first half during the championship game of the ACC Tournament at Greensboro Coliseum.

Last year, anyone who correctly chose each winner from the 64 NCAA tournaments would have won $US1 billion from Warren Buffett’s Berkshire Hathaway.

And though no one actually won the $US1 billion, CNNMoney reported Thursday that the contest ended in a big legal battle for the companies involved.

The contest was a collaboration between Yahoo, Berkshire Hathaway, and Quicken Loans. Then SCA Promotions, a small sweepstakes company, sued Yahoo for backing out of a contest deal with them.

In response, Yahoo sued SCA Promotions for giving the contest idea to Berkshire Hathaway, when buying $US1 billion insurance for the very slim chance that someone might win.

Most recently, Yahoo subpoenaed Berkshire Hathaway in February, requesting all communication between the firm and SCA Promotions about the contest. Berkshire called the measure “overboard” and “burdensome,” and asked a judge to throw out the subpoenas.

So your shot at $US1 billion probably won’t be happening again this year.

Read the full story at CNNMoney >>

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