Berkshire Hathaway Inc. (BRK.A) Fined $900,000 For Failure To Report Transaction

Even firms as big as Berkshire Hathaway Inc. (NYSE:BRK.A) don’t learn from their past mistakes. This was proved when Warren Buffett‘s Berkshire Hathaway Inc.(NYSE:BRK.A) was fined $900,000 by the US Department of Justice for failure to report a transaction recently, which is its second such ‘mistake’ in last six months. Bertha Coombs reported on Berkshire Hathaway Inc. (NYSE:BRK.A)’s fine on CNBC, recently.

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“This is a civil fine, Berkshire Hathaway Inc. (NYSE:BRK.A) has agreed to pay nearly $900,000 in conjunction with failure to report a transaction that boosted its stake in  building products firm USG. Warren Buffett in a note says, “we made a mistake when we overlooked the filing requirement. Berkshire Hathaway Inc. (NYSE:BRK.A) 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 of 2013. This event triggered a filing requirement for Berkshire Hathaway Inc. (NYSE:BRK.A) and we were late in realizing that fact”,” Coombs said.

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