Buffett: Sokol Violated Ethics Rules

Warren Buffett’s Berkshire Hathaway released a report Wednesday proving that David Sokol, a top executive who many believed would one day succeed Buffett at the helm of the company, had violated Berkshire’s insider-trading and ethics policies. Sokol has been accused of buying stock in the chemical company Lubrizol and then advising Berkshire Hathaway to acquire the company. Berkshire’s board said Sokol offered “misleadingly incomplete disclosures” about his $10 million investment in Lubrizol.