Financial Business Recap: Berkshire Boosts DaVita Position, Morgan Stanley Sued By Trustee
Berkshire Hathaway (NYSE:BRK.B) boosts its investment in the dialysis clinic operator DaVita (NYSE:DVA) to around 10.8 percent. Last week, Berkshire had acquired an additional 282,000 shares, which brought the total holdings to approximately 10.2 percent. On Friday DaVita closed at a 52-week high at $103.61, which represents a 22 percent rise since the February disclosure of a Berkshire position.
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The trustee for investors is suing Morgan Stanley (NYSE:MS) for a minimum of $110.8 million in a $609 million face value of mortgage backed securities. It’s just another in a long series of legal actions against the top banks because of mortgages they sold.