Daily Archives: January 4, 2013, 2:51 pm

Sokol ‘Exonerated’ and ‘Cleared’ by SEC?

The SEC has reportedly decided not to pursue a civil enforcement action against former Berkshire Hathaway executive, David Sokol. That’s great news for Sokol but it doesn’t necessarily mean that he has been “exonerated” and “completely cleared” by the agency, as his counsel now asserts. via Sokol ‘Exonerated’ and ‘Cleared’ by SEC? – Compliance Week

Read More

Former Satyam Directors Dodge Class Action over ‘India’s Enron’

Indian business leaders who got swept up in the accounting scandal known as “India’s Enron” escaped a U.S. shareholder class action this week, thanks to their lawyers at Weil Gotshal & Manges, Cooley, and Debevoise & Plimpton. In a 71-page ruling issued on Wednesday, U.S. District Judge Barbara Jones in Manhattan dismissed securities fraud claims against seven outside directors of…

Read More

SEC drops case against ex-Berkshire exec Sokol: lawyer

The U.S. securities regulator has decided not to take action against David Sokol, once considered a possible candidate for the top job at Warren Buffett’s Berkshire Hathaway Inc, Sokol’s lawyer told Reuters. In 2011, Buffett said Sokol violated the company’s insider trading rules to score a $3 million windfall profit on shares of U.S. chemicals maker Lubrizol, which rose by…

Read More