Bradley Bondi, partner at Cadwalader, Wickersham & Taft LLP in Washington and New York, said that it appears that Sokol didn’t possess any material non-public information about whether Berkshire Hathaway was going to buy Lubrizol stock when he bought his stake….
Bondi added that a different situation might be insider trading if Berkshire Hathaway was preparing to buy a large stake of Lubrizol stock, and Sokol acquired a stake for himself based on that information knowing its stock price would increase substantially after the Hathaway investment.
‘Enforcement 40’ for 2020
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