Diffusion Pharmaceuticals’ 50-For-1 Stock Split Will Go Into Effect Tomorrow

Reuters

U.S. charges ex-Brazilian CFO with planting false Berkshire Hathaway story

NEW YORK (Reuters) -U.S. authorities on Monday charged a former senior executive at IRB Brasil Resseguros SA with fraudulently planting a false story that Warren Buffett’s Berkshire Hathaway Inc had made a significant investment in the Brazilian reinsurer. The U.S. Department of Justice said Fernando Passos, 39, who had been IRB’s chief financial officer, fabricated the story in early 2020 to prop up IRB’s stock price, which had slid after a short seller questioned the company’s financial results. Passos, of Sao Paulo, fabricated a fake shareholder list showing that Berkshire owned 28 million IRB shares, and spread news of the stake to investors, an analyst and later the press.