8-KOther Events

BERKSHIRE HATHAWAY INC 8-K Report (Aug 13, 2002)

Filed August 13, 2002For Securities:BRK-BBRK-A

Summary

Berkshire Hathaway Inc. (BRK-B) filed a Form 8-K on August 13, 2002, primarily to disclose that its principal executive officer, Warren E. Buffett, and principal financial officer, Marc D. Hamburg, had filed sworn statements with the SEC on August 13, 2002, pursuant to SEC Order No. 4-460. This filing is in addition to the company's Quarterly Report on Form 10-Q for the period ended June 30, 2002, which was also filed on August 13, 2002. Crucially, the Form 10-Q was accompanied by certifications from Mr. Buffett and Mr. Hamburg, made under Section 906 of the Sarbanes-Oxley Act of 2002. Investors should note that the Sarbanes-Oxley Act, enacted in mid-2002, introduced significant new requirements for corporate governance and financial reporting following accounting scandals. These certifications represent an early adherence by Berkshire Hathaway to the new compliance standards. The filing includes copies of these statements and certifications as exhibits. While this 8-K does not contain new financial performance data, it signals the company's commitment to regulatory compliance and transparency in the wake of new legislation, which could be viewed positively by investors concerned about corporate accountability.

Key Highlights

  • 1Berkshire Hathaway Inc. filed a Form 8-K on August 13, 2002, to comply with Regulation FD disclosure requirements.
  • 2Warren E. Buffett and Marc D. Hamburg, principal executive and financial officers, filed sworn statements with the SEC.
  • 3These statements were made pursuant to SEC Order No. 4-460.
  • 4The company also filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2002, on the same date.
  • 5Crucially, the Form 10-Q filing included certifications from Mr. Buffett and Mr. Hamburg under Section 906 of the Sarbanes-Oxley Act of 2002.
  • 6Exhibits attached to the 8-K include copies of the sworn statements and the Sarbanes-Oxley certifications.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose that Berkshire Hathaway's principal executive and financial officers have filed sworn statements with the SEC, as required by SEC Order No. 4-460, and have also provided certifications under the Sarbanes-Oxley Act of 2002 with the company's Q2 2002 10-Q filing.

The Sarbanes-Oxley Act of 2002 (SOX) imposed new requirements on public companies regarding financial reporting and corporate governance. The certifications by Mr. Buffett and Mr. Hamburg under Section 906 of SOX indicate that Berkshire Hathaway is actively complying with these new federal mandates for executive accountability regarding financial statements.

No, this 8-K filing itself does not provide new financial performance data. It is a disclosure of compliance with regulatory requirements. The financial performance information for the quarter ended June 30, 2002, is available in the accompanying Form 10-Q filing.

SEC Order No. 4-460 was issued in response to accounting scandals and required certain public company officers to submit sworn statements regarding the accuracy of their company's financial reports.