NLPC Files Brief Against Warren Buffett’s Motion to Dismiss Lawsuit

The National Legal and Policy Center (NLPC) has filed a brief in federal court in Omaha, Nebraska, opposing Warren Buffett and Berkshire Hathaway’s motion to dismiss a lawsuit. Filed in May, the lawsuit seeks accountability for the arrest of NLPC Chairman Peter Flaherty during Berkshire Hathaway’s 2023 Annual Meeting.

During the meeting, Flaherty was presenting NLPC’s shareholder proposal advocating for the separation of the roles of Chairman and CEO, a move aimed at improving corporate governance. His presentation included criticism of Buffett’s financial support to the Bill and Melinda Gates Foundation, which promotes the controversial Critical Race Theory and a Gender Identity Toolbox. Flaherty also highlighted Bill Gates’s relationship with convicted sex offender Jeffrey Epstein, referencing a Wall Street Journal story published two days before the meeting.

As Flaherty spoke, Buffett cut his microphone and ordered security to eject him, leading to his arrest by an Omaha Police officer. “The silencing and arrest of a shareholder who was speaking in favor of a shareholder proposal has never before occurred at an annual meeting of a public company in the United States,” Flaherty stated.

NLPC Counsel Paul Kamenar expressed confidence in the forthcoming legal proceedings, saying, “We look forward to having our day in court to hold Mr. Buffett and Berkshire Hathaway accountable for their actions.” The federal court is expected to rule on Berkshire’s motion to dismiss in the coming weeks.

The outcome of this legal battle could set a significant precedent for shareholder rights and corporate governance practices in public companies. If the court rules in favor of NLPC, it may encourage more shareholders to speak up against management practices without fear of retribution, potentially leading to more transparency and accountability in corporate America.