Sokol abruptly resigned as chairman of MidAmerican Energy Holdings, a part of Warren Buffett's Berkshire Hathaway conglomerate, and came under SEC scrutiny in 2011 after he bought shares in lubricant maker Lubrizol two months before Berkshire announced a $9 billion acquisition of the company.
After the deal was announced the value of Sokol's investment rose $3 million, The Wall Street Journal reported Friday.
Sokol's lawyer, Barry Wm. Levine, said the SEC informed his client it had completed it inquiry and decided not to pursue a civil enforcement action.
2014: NFL Cheerleaders [PHOTOS]
Starbucks testing a latte that tastes like beer