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Browse: Home / 2011 / March / 31 / Why SEC May Not Bring Charges Against Sokol

Why SEC May Not Bring Charges Against Sokol

By Securities Docket on March 31, 2011, 8:03 pm

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.

Read more: Why SEC may not bring charges against Sokol — MarketWatch

Posted in SEC | Tagged Insider Trading

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