(Updated from Wednesday, March 30, with comments from David Sokol, analysts, Berkshire Hathaway stock trading impact)NEW YORK ( TheStreet) -- David Sokol, who resigned Wednesday as one of Warren Buffett's top lieutenants at Berkshire Hathaway ( BRK.B), said he wasn't looking to be the next Warren Buffett. Yet the market reaction was one of surprise, and questions related to Sokol's trading in shares of Lubrizol ahead of Berkshire's purchase of the chemicals company in mid-March, a transaction in which Sokol played a key role, are reverberating through the markets and public court of opinion. The Securities and Exchange Commission said on Thursday that it would look into the potential insider trading aspects of the Sokol trades in Lubrizol, though the SEC described the matter as not being "urgent," according to a report on CNBC. The Wall Street Journal had reported on Wednesday night that the SEC was looking into the Sokol Lubrizol trades, citing people "familiar with the matter." Insider trading lawyers have indicated that major corporate transactions are routinely reviewed by regulators for potential insider trading.
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