WOODBURY, N.Y. - In a $1.8 million lawsuit filed on June 11, GEICO has challenged an alleged no-fault scheme involving the submission of thousands of suspect no-fault claims to the company ( Government Employees Insurance Company, et al. v. Michael D. Green, M.D., et al. , No. CV10-2671, E.D. N.Y.)....
On February 26, 2011, Berkshire Hathaway issued Chairman Warren Buffett's
much-anticipated annual letter to the company's shareholders ( here ). Although
aficionados of Buffett's letters will not be disappointed, this year's letter
is largely focused on Berkshire's performance...
By now, everyone and his brother has had an opinion on
the l'affaire Sokol. I've poked around a little and given it some
thought. I think there are two issues. First is the corporate
opportunity issue. I think that's pretty clear. The second, and
more ambiguous issue, is the potential...
Kirby v. Sokol, et al., Del.
Ch. No. 6392, is the caption of a lawsuit filed earlier this week in the
Delaware Court of Chancery which arises out of the recent resignation of the
heir apparent to the Oracle of Omaha, Warren Buffett, based on widely-reported
allegations in the mainstream press and...
Kirby v. Sokol, et al., Del. Ch. No. 6392, is the caption of a lawsuit filed earlier this week in the Delaware Court of Chancery which arises out of the recent resignation of the heir apparent to the Oracle of Omaha, Warren Buffett, based on widely-reported allegations in the mainstream press and elsewhere...
Berkshire Hathaway Chairman Warren Buffett was not
exaggerating when he stated at the opening of the company's March 30, 2011 press
release ( here )
that the release "will be unusual." Not only did Buffett disclose the
resignation of David Sokol
as Chairman and CEO of several subsidiaries...
Warren Buffet announced the sudden resignation of his
heir apparent, David Sokol, on March 30, 2011. Berkshire Hathaway shareholders,
fundamental style value investors, law
professors , and the business media have been talking about it ever since.
doesn't want us to question...
Berkshire Hathaway Chairman Warren Buffett was not exaggerating when he stated at the opening of the company's March 30, 2011 press release ( here ) that the release "will be unusual." Not only did Buffett disclose the resignation of David Sokol as Chairman and CEO of several subsidiaries...
These are not good facts for Sokol. From the Berkshire
board's report on Sokol's trading :
Mr. Buffett was initially unimpressed with Lubrizol as
apotential acquisition, but told Mr. Sokol to let him know what he learned at
the meeting. He also told Mr. Sokol that he was unfamiliar with...
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,
We have previously
written about the importance of getting your investigation right before
publicly announcing the results. In other words, do not allow your CEO,
as Renault did, to go on national television and decree that three (former)
executives had foreign bank accounts filled with money from the...
There are many ways journalists, investors, and Warren
Buffett himself refer to the Berkshire Hathaway Annual Meeting, held in Omaha,
Nebraska. These short-cuts and sobriquets add a larger-than-life aspect to what
is typically, for almost any other public company, a rather perfunctory affair.
In the post on Tuesday we wrote and discussed several
points about Warren Buffet, Berkshire Hathaway and David Sokol. One of the
issues was disclosure to the Securities and Exchange Commission (SEC) of any
possible securities violations. Another issue was the support provided by
Warren Buffet at...
On this episode of the LexisNexis Corporate &
Commercial Insights, Steve Berstler speaks to Francis G.X. Pileggi,
Member-in-Charge, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE, about
the shareholder derivative action against Warren Buffett and Berkshire Hathaway
as well as the increasing...
Warren Buffet carefully cultivates a CEO-savant persona.
Most media enable him.
His latest stunt, ostensibly meant to save Bank of
America while closing a savvy deal for Berkshire Hathaway, garnered laudatory
headlines. Bank of America spun Buffett's $5 billion investment for maximum
The annual letter to Berkshire Hathaway shareholders of
Warren Buffett, the company's Chairman, is anticipated every year as much (or
arguably more) for its commentary on the financial world and the economy as it
is for its discussion of the company's performance. This year's letter (...
The chapter 11 case of mortgage lender and servicer Residential Capital, LLC ("ResCap") is fascinating on a number of levels. Its parent company, Ally Financial, Inc. ("AFI"), hopes to use ResCap's bankruptcy to extricate itself from potential liabilities arising from the collapse...
What Warren Buffett has accomplished at the head of Berkshire Hathaway is nothing short of astonishing. Not only has he built a massive company, but he has done it while maintaining an unparalleled reputation for business integrity. The man is an American business icon. He is also mortal. Buffett is...