Tags: Berkshire Hathaway | Shareholders

Buffett Criticizes Former Executive's Actions

Saturday, 30 Apr 2011 04:44 PM

 

OMAHA, Nebraska (AP) — Warren Buffett believes David Sokol clearly violated Berkshire Hathaway's ethical standards when he bought stock in Lubrizol before recommending that Berkshire buy the chemical company.

Buffett told Berkshire Hathaway shareholders Saturday that he doesn't think he will ever understand why the former Berkshire executive did what he did.

Buffett acknowledges that he made a mistake by not asking Sokol more about his Lubrizol stock when they first discussed the company in January. But Buffett says he didn't have reason to think Sokol had just bought the stock the week before.

Sokol, who resigned earlier in April, denies any wrongdoing.

Buffett says the reason he wasn't harder on Sokol when he announced the former MidAmerican Energy chairman's resignation in March was because he didn't have all the information at that point.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

NBC News Renews Savannah Guthrie's Contract At 'Today' - Report

Sunday, 25 Jan 2015 22:41 PM

NBC News has signed Today co-anchor Savannah Guthrie to a new contract that is said to last at least three years, acco . . .

'Birdman' Tops SAG Awards, Redmayne Upsets Keaton

Sunday, 25 Jan 2015 22:05 PM

The backstage farce "Birdman" topped the 21st annual Screen Actors Guild Award, winning best ensemble cast, even though  . . .

Blizzard Expected for 250-mile Stretch of Northeast

Sunday, 25 Jan 2015 17:20 PM

A potentially historic storm could dump 2 to 3 feet of snow from northern New Jersey to southern Maine starting Monday . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved