8-KOther Events

BERKSHIRE HATHAWAY INC 8-K Report, Corporate Update (Sep 21, 2006)

Filed September 21, 2006For Securities:BRK-BBRK-A

Summary

Berkshire Hathaway Inc. filed an 8-K report on September 21, 2006, to disclose information regarding a superseding indictment issued by the U.S. Department of Justice (DOJ) on September 20, 2006. This indictment relates to charges previously disclosed against former executives of General Re Corporation (Gen Re), a subsidiary of Berkshire Hathaway, concerning a transaction with American International Group (AIG) in late 2000. The superseding indictment introduces new charges against Christopher Garand, a former Gen Re Senior Vice President, and expands similar charges against Ronald Ferguson (former CEO of Gen Re), Elizabeth Monrad (former CFO of Gen Re), and Robert Graham (former Senior Vice President and Assistant General Counsel of Gen Re), who were also named in the original indictment. The charges primarily involve conspiracy to violate securities laws, securities fraud, making false statements to the SEC, and mail fraud in connection with the AIG transaction.

Key Highlights

  • 1Berkshire Hathaway reported a superseding indictment by the U.S. Department of Justice concerning former Gen Re executives.
  • 2The indictment relates to a 2000 transaction between Gen Re and American International Group (AIG).
  • 3Christopher Garand, a former Gen Re executive, faces new charges, including conspiracy and securities fraud.
  • 4Existing charges against former Gen Re executives Ronald Ferguson, Elizabeth Monrad, and Robert Graham have been detailed or reiterated.
  • 5The charges against the former executives include conspiracy to violate securities laws, securities fraud, false statements to the SEC, and mail fraud.
  • 6This filing serves to update investors on legal proceedings involving a Berkshire Hathaway subsidiary.
  • 7The reported events occurred on September 19, 2006, and were filed on September 20, 2006.

Frequently Asked Questions

The main event disclosed is the announcement of a superseding indictment by the U.S. Department of Justice (DOJ) against former executives of General Re Corporation (Gen Re), a subsidiary of Berkshire Hathaway. This indictment relates to a transaction with American International Group (AIG) in late 2000.

The superseding indictment includes charges against Christopher Garand (former Gen Re Senior Vice President), Ronald Ferguson (former CEO of Gen Re), Elizabeth Monrad (former CFO of Gen Re), and Robert Graham (former Senior Vice President and Assistant General Counsel of Gen Re and former officer of AIG).

The charges include conspiracy to violate securities laws, securities fraud, making false statements to the Securities and Exchange Commission (SEC), and mail fraud in connection with the AIG Transaction.

No, this filing reports on charges against former executives of its subsidiary, General Re Corporation. Berkshire Hathaway Inc. is reporting this event as an update to investors regarding legal proceedings that involve its subsidiary.