Warren Buffett's company rejects proposals, but it faces lawsuit over how it handled one last year

Harold and Caroline Ernst of St. Louis chat with fellow shareholders as they wait for the Berkshire Hathaway annual meeting to begin on Saturday, May 4, 2024, in Omaha, Neb. . But Warren Buffett and the company are now facing a lawsuit over the way one presenter was treated last year.

The issue last year was that Flaherty questioned the character of one of Buffett’s best friends and a former Berkshire board member, Bill Gates. Flaherty suggested that Buffett’s close association with Gates could hurt Berkshire’s reputation because of reports that Gates had been associated withbefore he was arrested for sex trafficking. So he was proposing that Berkshire give someone else Buffett’s chairman title while leaving him as CEO.

Flaherty’s proposal was one of six rejected at Berkshire’s meeting this year. They were all opposed by the board, and Buffett still controls roughly one-third of the vote so anything he opposes is almost certain to fail. None of the proposals received more than 85,000 votes. Flaherty’s proposal only drew 6,150 votes while getting 443,544 votes against it.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett says Berkshire Hathaway is looking at an investment in CanadaThe Oracle of Omaha noted that he is 'confident' in placing bets in the country.
Source: CNBC - 🏆 12. / 72 Read more »

Warren Buffett's Berkshire Hathaway cut Apple investment by about 13% in the first quarterBerkshire reported that its Apple bet was worth $135.4 billion, implying around 790 million shares. That would mark a decline of around 13% in the stake.
Source: NBCLA - 🏆 319. / 59 Read more »