Thursday, April 28, 2011

Berkshire's Lawyer Responds to the Response of Sokol's Lawyer

Yesterday, the attorney for David Sokol responded to the scathing report released by Berkshire Hathaway about Sokol's activities surrounding his purchase of Lubrizol stock.

Berkshire director and lawyer, Ronald L. Olson, released a statement on Wednesday night saying that the company’s board had sought to interview Sokol about his $10 million stake in Lubrizol, contradicting earlier remarks made by Sokol’s lawyer.

Sokol's lawyer in his response gave the impression that Berkshire did not attempt to contact Sokol.

Olson said in his statement:
Mr. Sokol was interviewed at least three times regarding his Lubrizol trading activity and contacts with Citi bankers. [But] in connection with the preparation of the audit committee report, a request for a further interview with Mr. Sokol was made to his attorney. Mr. Sokol was not made available.

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