Omaha Public Radio News
7:28 am
Mon May 2, 2011

Buffett: Sokol's actions "inexplicable and inexcusable"

Omaha, NE – Berkshire Hathaway's chief says former top executive David Sokol's actions were "inexplicable and inexcusable." Warren Buffett's comments came Saturday at the annual Berkshire shareholders meeting. Sokol resigned in late March. An Audit Committee report released last week shows Sokol violated the company's insider trading and ethics policies when he bought stock in chemical company Lubrizol, then suggested to Buffett that Berkshire Hathaway buy the company. Sokol's lawyer, Barry Levine, says Sokol didn't break any laws.