Judge Nixes Berkshire Investor Suit Over Sokol Trades

Law360, Wilmington (March 19, 2012, 9:29 PM EDT) -- A Delaware judge on Monday tossed a suit brought by Berkshire Hathaway Inc. shareholders over alleged improper trades by David L. Sokol — CEO Warren Buffett's former right-hand man — on the holding company's 2011 purchase of Lubrizol Corp.

At a hearing in Delaware Chancery Court, Vice Chancellor J. Travis Laster dismissed the derivative suit without prejudice, finding that the decision on whether to sue Sokol should not be taken away from the Berkshire board.

Several shareholders filed suit last April, saying Sokol owes damages and...
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