Lubrizol said in a filing that Sokol was informed on Dec. 17 by Citigroup that Lubrizol’s board would discuss the approach. Less than three weeks later, at around the time of the board meeting, Sokol started accumulating Lubrizol shares for his own account. (He had held a small position earlier but sold it off after a week)….
“I have had and do have a lot of problems with the conduct even before these disclosures, and these disclosures only make it worse. I also have a lot of problems with all the efforts to defend this conduct, which I think is troubling to me,” said Harvey Pitt, chief executive of strategic advisors Kalorama Partners and the former chairman of the U.S. Securities and Exchange Commission.
Read more: Analysis: New Sokol information may tip SEC’s hand on probe — Reuters Legal
