A new report from the Audit Committee of Berkshire Hathaway Inc. faults the “misleadingly incomplete” disclosures made by departed executive David Sokol prior to the company’s March purchase of Lubrizol Corp.

The report is much more strident in tenor than the minimally admonishing tone struck by Berkshire CEO Warren Buffett in the March letter announcing Sokol’s resignation. Buffett’s letter acknowledged that Sokol purchased nearly 100,000 Lubrizol shares worth approximately $10 million in the months prior to the $9 billion acquisition but maintained that the stock purchases were not “in any way unlawful.”

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access