The former Berkshire Hathaway executive who made a questionable investment in a chemical company Berkshire is acquiring is upset about comments Warren Buffett made at Berkshire's annual meeting.
David Sokol's lawyer, Barry Levine, issued a statement Saturday reiterating his view that the former MidAmerican Energy chairman did nothing wrong by investing roughly $10 million in Lubrizol stock in January while he was evaluating acquisition candidates for Berkshire.
Buffett said Sokol's actions were inexplicable and inexcusable. Buffett also said he believes Sokol violated company ethics and insider trading policies.
Levine says Sokol was saddened to hear what Buffett said about him. Levine says Sokol never tried to withhold information from Buffett or other Berkshire officials.
The audit committee of Berkshire's board said Sokol's disclosures about his Lubrizol investment were misleadingly incomplete.