Warren Buffett may not have come completely clean about the trading activities of his former top executive David Sokol, but the audit committee for his company sure did.
“By engaging in such questionable conduct, Mr. Sokol threatened Berkshire Hathaway’s reputation — or would have done so had he remained with the company,” the audit committee said in a report released today. Click here to read more.
When Buffett first disclosed this issue last month, it seemed he was trying to white-wash it. “Dave’s contributions have been extraordinary.” “I had not asked for his resignation, and it was a surprise to me.” Blah, blah, blah.
Now Buffett’s audit committee says he was misled. Click here to read a column I wrote on Buffett’s attempted white-washing. The harsher tone from his audit committee suggests the controversy is heating up just in time for Berkshire Hathaway’s annual meeting in Omaha this weekend.
