I think you are talking about Malcolm Greene
Chace whose father was a stockholder in Berkshire
Hathaway before Buffett bought into it. In fact, I believe
that the senior Chace was a major stockholder in
Berkshire Fine Spinning co before it merged with
Hathaway Mills to form Berkshire Hathaway. This is covered
in Lowenstein's book on Warren Buffett.
He is
just selling stock that his family has held for a
longtime.
Best wishes.