Berkshire report raps Sokol deal (deceive the company's top executives, including CEO Warren Buffett

[Omaha Steve]

Source: Omaha World Herald

By Steve Jordon

David Sokol is severely criticized by Berkshire Hathaway Inc.'s audit committee of directors, who said in a scathing report that he apparently intended to deceive the company's top executives, including CEO Warren Buffett, about financial trades that netted him a $3 million profit.

The committee also said that Berkshire can consider suing Sokol for the gain in his trading of stock in Lubrizol Inc. and for other damages.

Messages left for Sokol were not returned.

Sokol violated the company's code of executive conduct and ethics, the audit committee members said in the report, which was posted in full on-line by Berkshire Wednesday afternoon.


Read more: http://www.omaha.com/article/20110427/NEWS/704289991#berkshire-report-raps-sokol-deal

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• Online extra: Read the Berkshire Hathaway audit committee's full report

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David Sokol