Looks like there're attempting to deflect some tough questions before the shareholder meeting. Wonder what else is is in the closet that is yet to come out.
From Bloomberg
David Sokol violated Berkshire Hathaway Inc. (BRK/A)’s standards by misleading the company about his personal stake in Lubrizol Corp., which he recommended as a takeover target to Chairman Warren Buffett, the company said.
“His purchases of Lubrizol shares while serving as a representative of Berkshire Hathaway in connection with a possible business combination with Lubrizol violated company policies, including Berkshire Hathaway’s Code of Business Conduct and Ethics and its Insider Trading Policies and Procedures,” the Omaha, Nebraska- based company said today in a statement.
Berkshire today released a report by its audit committee about Sokol’s trading before the $9 billion deal was announced on March 14. Buffett had said in a March 30 statement announcing Sokol’s resignation that he didn’t believe the trades violated U.S. law. Berkshire will post a complete transcript of all questions and answers related to the Lubrizol-Sokol matter as soon as possible after the company’s annual meeting on April 30, Buffett’s firm said today.
Sokol’s “misleadingly incomplete disclosures to Berkshire Hathaway senior management concerning those purchases violated the duty of candor he owed the company,” according to the report.
David Sokol violated Berkshire Hathaway Inc. (BRK/A)’s standards by misleading the company about his personal stake in Lubrizol Corp., which he recommended as a takeover target to Chairman Warren Buffett, the company said.
“His purchases of Lubrizol shares while serving as a representative of Berkshire Hathaway in connection with a possible business combination with Lubrizol violated company policies, including Berkshire Hathaway’s Code of Business Conduct and Ethics and its Insider Trading Policies and Procedures,” the Omaha, Nebraska- based company said today in a statement.
Berkshire today released a report by its audit committee about Sokol’s trading before the $9 billion deal was announced on March 14. Buffett had said in a March 30 statement announcing Sokol’s resignation that he didn’t believe the trades violated U.S. law. Berkshire will post a complete transcript of all questions and answers related to the Lubrizol-Sokol matter as soon as possible after the company’s annual meeting on April 30, Buffett’s firm said today.
Sokol’s “misleadingly incomplete disclosures to Berkshire Hathaway senior management concerning those purchases violated the duty of candor he owed the company,” according to the report.