New Development in the Berkshire-Hathaway/Sokol Matter

New Development in the Berkshire-Hathaway/Sokol Matter

 

We previously wrote here about a recent complaint filed in the Delaware Court of Chancery in connection with allegations that David Sokol, a member of Warren Buffett's inner circle at Berkshire Hathaway, profitted personally from what might be considered a corporate opportunity. Today, Professor Stephen Bainbridge, a highly reputed corporate scholar, writes here about a new report from Berkshire's audit committee that, in essence, throws Sokol under the proverbial bus. The good professor's analysis of the Delaware corporate law issues involved, and links to his prior insights, e.g., here, are of great value to those interested in this topic.

Reuters has a story about it here in which they quote yours truly.

UPDATE: The famous Professor Bainbridge kindly agrees with my quote  from Reuters, as posted on his blog here. 

Supplement: Professor Brian J.M. Quinn on his M & A Law Prof  Blog here adds his insightful analysis in this matter. Prof. Steven Davidoff as the DealProfessor on the DealBook blog, provides advice to Sokol here.

Read more Delaware business litigation case summaries and commentary on Delaware Corporate and Commercial Litigation Blog, a blog hosted by Francis G.X. Pileggi, of Fox Rothschild LLP.

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