{"id":20141,"date":"2011-03-15T16:50:48","date_gmt":"2011-03-15T20:50:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20141"},"modified":"2011-03-15T16:50:48","modified_gmt":"2011-03-15T20:50:48","slug":"rumors-of-insider-trading-swirl-around-berkshire-hathaways-deal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/15\/rumors-of-insider-trading-swirl-around-berkshire-hathaways-deal\/","title":{"rendered":"Rumors Of Insider Trading Swirl Around Berkshire Hathaway&#8217;s Deal"},"content":{"rendered":"<p>Rumors of insider trading surround Berkshire Hathaway&#8217;s (NYSE:BRK.B)  deal to buy Lubrizol (NYSE:LZ) announced just yesterday, after analysis  by Bloomberg showed call trading surged suspiciously on March 9th, 5  days before the deal was announced, to 2,931 contracts, far higher than  Lubrizol&#8217;s 4-week average trade volume of 413. A single block of 2,168  April $110 calls traded for $2.35 each that day, their value surging  11-fold to $24.70 yesterday. The company&#8217;s common stock jumped 28% to  $134.68. Ophir Gottlieb, head of client services at Livevol Inc., a San  Francisco-based provider of options market analytics said, &#8220;That is more  than suspicious. It looks like a naked purchase of calls, and that&#8217;s  highly suspicious if not straight insiders trading.&#8221; Citigroup (NYSE:C)  and Evercore Partners Inc. (NYSE:EVR) were the financial advisers to  Lubrizol, while Jones Day was legal counsel. Munger, Tolles &amp; Olson  LLP was legal counsel for Berkshire.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rumors of insider trading surround Berkshire Hathaway&#8217;s (NYSE:BRK.B) deal to buy Lubrizol (NYSE:LZ) announced just yesterday, after analysis by Bloomberg showed call trading surged suspiciously on March 9th, 5 days before the deal was announced, to 2,931 contracts, far higher than Lubrizol&#8217;s 4-week average trade volume of 413.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20141","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20141"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}