Omaha Public Radio News
Mon May 2, 2011
Buffett: Sokol's actions "inexplicable and inexcusable"
By Katie Knapp Schubert
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.