Most Popular Stories

  1. Social Media Initiatives Should Follow Customers' Lead
  2. SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
  3. Apple CEO: Offshore Units Not a 'Tax Gimmick'
  4. U.S. Senate Accuses Apple of Large-scale Tax Avoidance
  5. Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
  6. UTEP Water Recycling Project Wins Venture Titles
  7. Crude Oil Up, Gasoline Down
  8. Bieber Booed at Billboard Awards
  9. Apple Said to Duck Billions in Taxes
  10. Austin Startup Compare Metrics Raises $3.5 Million for Expansion
More Headlines...
News-To-Go
Newsletters and Email Alerts RSS Feeds
News Column

SEC Ends Sokol Investigation

Jan. 7, 2013

The U.S. Securities and Exchange Commission won't file insider trading charges against former Berkshire Hathaway executive David L. Sokol, his lawyer said.

Sokol abruptly resigned as chairman of MidAmerican Energy Holdings, a part of Warren Buffett's Berkshire Hathaway conglomerate, and came under SEC scrutiny in 2011 after he bought shares in lubricant maker Lubrizol two months before Berkshire announced a $9 billion acquisition of the company.

After the deal was announced the value of Sokol's investment rose $3 million, The Wall Street Journal reported Friday.

Sokol's lawyer, Barry Wm. Levine, said the SEC informed his client it had completed it inquiry and decided not to pursue a civil enforcement action.



Source: Copyright United Press International 2013


No Related Stories at this time!

Comments
Story Tools
© 2013 HispanicBusiness Inc. All Rights Reserved.