Berkshire Execs Move To Bury Suit Over Sokol Trades

Law360, Wilmington (August 1, 2011, 4:31 PM EDT) -- Berkshire Hathaway Inc. and its directors want to kill a suit over alleged insider trading by CEO Warren Buffett’s former right-hand man in the company's $9.7 billion purchase of Lubrizol Corp., according to documents filed Friday in Delaware state court.

Two Berkshire shareholders filed derivative suits in April alleging David L. Sokol abruptly quit Berkshire in March after loading up on Lubrizol shares in January and convincing Buffett that the chemical company was a quality takeover target. The suits, now consolidated, say Sokol owes shareholders damages...
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