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WSJ: SEC Weighs Launching Sokol Insider Trade Probe - Sources

By Jean Eaglesham Of THE WALL STREET JOURNAL New York -(Dow Jones)- The Securities and Exchange Commission was Thursday weighing whether to launch an insider trading investigation into Berkshire Hathaway Inc. (BRKA, BRKB) executive David Sokol, according to people familiar with the matter. They said the agency does not view the situation as requiring urgent action. The likely first step in a probe would be to request relevant information, such as trading records, from Berkshire Hathaway and Mr. Sokol, according to people familiar with the matter. On Wednesday, Berkshire Chairman and CEO Warren Buffett disclosed that Sokol, 54, was resigning from Berkshire, where he had been considered a leading contender to succeed Buffett, who is 80. Sokol resigned after purchasing $10 million of the stock of Lubrizol Corp. (LZ), a company Sokol suggested that Buffett buy. Sokol bought the shares, and recommended the company's purchase, in January. In March, Berkshire said it agreed to buy Lubrizol, leading to a $3 million profit on Sokol's stake in less than three months. Sokol said his resignation "had absolutely nothing to do" with Lubrizol, and both he and Mr. Buffett said they don't think Sokol violated any laws.

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