WSJ: SEC Weighs Launching Sokol Insider Trade Probe - Sources

Date : 03/31/2011 @ 3:35PM
Source : Dow Jones News
Stock : Lubrizol Corp (LZ)
Quote : 134.97  0.0 (0.00%) @ 2:05AM

WSJ: SEC Weighs Launching Sokol Insider Trade Probe - Sources

Lubrizol (NYSE:LZ)
Historical Stock Chart

5 Years : From May 2012 to May 2017

Click Here for more Lubrizol Charts.

The Securities and Exchange Commission was Thursday weighing whether to launch an insider trading investigation into Berkshire Hathaway Inc. (BRKA, BRKB) executive David Sokol, according to people familiar with the matter.

They said the agency does not view the situation as requiring urgent action.

The likely first step in a probe would be to request relevant information, such as trading records, from Berkshire Hathaway and Mr. Sokol, according to people familiar with the matter.

On Wednesday, Berkshire Chairman and CEO Warren Buffett disclosed that Sokol, 54, was resigning from Berkshire, where he had been considered a leading contender to succeed Buffett, who is 80.

Sokol resigned after purchasing $10 million of the stock of Lubrizol Corp. (LZ), a company Sokol suggested that Buffett buy. Sokol bought the shares, and recommended the company's purchase, in January. In March, Berkshire said it agreed to buy Lubrizol, leading to a $3 million profit on Sokol's stake in less than three months.

Sokol said his resignation "had absolutely nothing to do" with Lubrizol, and both he and Mr. Buffett said they don't think Sokol violated any laws.

 
 

Latest LZ Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.