Following his arrest, NLPC’s counsel Paul Kamenar filed a complaint with the SEC, emphasizing the incident as a clear demonstration of societal disparity. The NLPC is urging the SEC to prevent Berkshire Hathaway from repeating such actions and to acknowledge them as violating rules.
An email sent By Benzinga to Berkshire Hathaway seeking comment didn’t elicit any response till the time of publishing this story.
A veteran shareholder activist, Flaherty remarked that this was his first arrest or microphone cut-off during a proposal. Currently, Berkshire Hathaway has not issued any comments regarding the incident.
Why It Matters: Earlier in May, the NLPC had warned that Buffett’s association with Gates could pose a significant risk to Berkshire investors. The group had attempted to oust Buffett as the board chair of Berkshire Hathaway due to these concerns.
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