Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

SEC drops insider trading case against former Berkshire trader

Friday, January 04, 2013

Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has opted not to file charges against David L. Sokol, a one-time top lieutenant at Omaha-based Berkshire Hathaway for insider trading. The news comes from Sokol's lawyer who released a statement Thursday.

Sokol was being investigated following his sudden resignation from Berkshire's MidAmerican Energy Holdings. The investigation was brought after it was revealed that Sokol purchased shares of another energy company Lubrizol, which Berkshire then acquired 2 months later.

Sokol's lawyer, Barry W. Levine, said that his client was always above board in his transactions and that he was glad the SEC had decided not to pursue any charges. Sokol was considered a leader in the firm and a possible successor to Warren Buffett who is 82, according to a Bloomberg account of the matter. Buffett defended Sokol's purchase and all of his trades, and was believed to be caught by surprise when Sokol resigned.

According to Reuters, Buffett has ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1