SEC Asked About Ex-Manager Sokol in June, Buffett Tells CNBC
Warren Buffett said the U.S. Securities and Exchange Commission asked him questions in June about David Sokol, a manager who departed from Berkshire Hathaway Inc. (BRK/A) after disclosing trades in an acquisition target.
“They asked me a lot of questions, which I gave them the answer to,” Buffett, the 81-year-old chairman and chief executive officer of Omaha, Nebraska-based Berkshire, said today in an interview on CNBC. “I know nothing about what they’re doing beyond the fact that they wanted to ascertain certain facts from Berkshire and from me as to what had taken place. And we cooperated 100 percent.” No court reporter was present, Buffett said.
Sokol resigned from Buffett’s company in March after disclosures of stock trades he made in Lubrizol Corp. before Berkshire announced that it would buy the lubricant maker.
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