OUTLOOK: Who knew what at Saatchi and Saatchi?

As the dust begins to settle on the latest shinanigans at Saatchi and Saatchi (though perhaps it is a bit early to talk of settling dust), some serious questions need to be asked. Most vital is who knew what and when. It is possible that most of the selling and shorting in Saatchi shares over the last month or so was merely a response to events. It is equally possible it was peculiarly well informed. Certainly the Stock Exchange has a difficult task on its hands as it begins what may prove to be a very wide ranging insider dealing probe.

Then there is the question of what Jeremy Sinclair and the other musketeers who bailed out on Monday thought they were doing airing their letters of resignation before the company could announce them to the Exchange. They must have known it to be price-sensitive information. Perhaps David Herro, the fund manager who started all this, is right after all. Admen are not fit to run a welk stall, let alone a substantial public company.