Buffett's Move to Delay Disclosure Is Denied

The Securities and Exchange Commission denied Warren Buffett's appeal to delay disclosing some of his stock holdings.

Buffett, the chairman of Berkshire Hathaway Inc., was looking to prevent others from imitating his investment moves. The billionaire argued that other investors would follow his lead, raising the prices of the stocks and making it more costly for Berkshire to acquire them.

In its ruling released Wednesday, the SEC said, "Berkshire has not adequately demonstrated the likelihood of substantial competitive harm."