A shareholder derivative suit has been filed in the Delaware Court of Chancery against the board of Berkshire Hathaway Inc. and its chairman and CEO, Warren E. Buffett, in the aftermath of insider trading allegations that have engulfed David L. Sokol, a former top lieutenant of Buffett’s.

Sokol is also named as a defendant. The controversy kicked up after Sokol placed a buy order for a large block of stock in specialty chemical company Lubrizol Corp. in advance of bringing the company to Buffett’s attention as a possible acquisition target.

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