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 nearly a third after Berkshire Hathaway announced it would buy the company….
Sokol’s lawyer Barry Wm. Levine told Reuters late on Thursday that he was informed that the SEC had wrapped up its probe and decided not to take action against Sokol.
via SEC drops case against ex-Berkshire exec Sokol: lawyer — Reuters.