Buffett Issues Statement Related to Consent of Final Judgment
“As has been reported today, Berkshire Hathaway Inc. consented to a Final
Judgment whereby we agreed to pay a civil penalty of $896,000 for failure to
comply with the premerger reporting and waiting requirements of the Hart-Scott
Rodino Act. We made a mistake when we overlooked the filing requirement.
Berkshire had owned convertible notes of USG since 2008 and was effectively
forced to convert the notes when they were called for redemption by USG in
December 2013. This event triggered a filing requirement for Berkshire and we
were late in realizing that fact.”
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.