Chad Brand submits:

Based on the timeline of events from Lubrizol’s (LZ) recent SEC filings about how its deal to be acquired by Berkshire Hathaway (BRK.A) came to be, it sure seems like David Sokol is going to have problems making the case that he did not engage in insider trading when he bought Lubrizol stock for his own account.

We have learned that Sokol told Berkshire’s investment bankers at Citigroup on December 13th to contact Lubrizol in order to express interest about discussing a possible acquisition of the company. The very next day, on December 14th, Sokol bought 2,300 shares of Lubrizol stock for his personal account.

The odd part of the story is that Sokol sold those 2,300 shares on December 21st and then bought back 96,060 shares between January 5th and January 7th. This second batch of stock purchases is more than 40 times bigger than the first, and only

Complete Story »
Go to Source