Quakerz wrote:
No, they don't.
If I was a business man and I had a chance to cash in on my shares if they were at a stupidly high price, I would too. £11.1m though, nice, very nice!
I'm afraid there's a bit more to it than that. If you are the CEO and CFO and know that the shares are way overvalued compared to their real value then you are legally bound to inform the shareholders. If you bail out before anyone knows the truth and leave the following administration to pick up the pieces then I'm afraid that is called fraud. There are some city commentators who still find it incredible that these two were not charged for their actions.
Having said all that it is also true that Raj has behaved stupidly all the way through and in fairness S&S have been real straight arrow with the rescue group. However, I will not get drawn into the S&S love in until what happens with the Arena transpires. Wouldn't be 100% shocked to find they have pulled a fast one and that they make another killing out of this.