Lawyer: No Charges for Ex-Berkshire Hathaway Exec

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OMAHA, Neb. (AP) -- A former top Berkshire Hathaway (NYSE: BRK-A  ) (NYSE: BRK-B  ) executive whom many investors expected to succeed Warren Buffett one day reportedly won't face any charges for the questionable trades he made shortly before resigning in 2011.

Attorney Barry Levine told The Wall Street Journal and The New York Times that the Securities and Exchange Commission told him Thursday that his client, David Sokol, won't be charged.

The attorney and Sokol were unavailable for comment Friday. An SEC spokesman declined comment.

Sokol bought nearly 100,000 Lubrizol shares in 2011 when he knew Lubrizol's board was discussing selling the specialty chemical company to Berkshire for $9 billion. Sokol had recommended Lubrizol to Buffett.

Sokol has denied any wrongdoing in his Lubrizol investment.

Buffett called Sokol's actions unethical and inexcusable.

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  • Report this Comment On January 04, 2013, at 3:11 PM, FoolinSD wrote:

    REALLY!? I guess its time to write to my congressman or something.

  • Report this Comment On March 12, 2013, at 10:24 AM, rpace1906 wrote:

    Thank you for posting this! I have been trying to find a lawyer in Orlando, but don't really know how to look for one. A friend suggested I check out as good place to check out. But I also wanted to see if anyone had any suggestions? Any insight would be great!

  • Report this Comment On October 15, 2013, at 12:55 PM, alawrence37 wrote:

    I wonder if any Whitehorse lawyers were involved in this. I can't believe these guys get off so easily. It's not fair.

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