Stock Exchange Inquiry Into Saatchi Insider Dealing

The Stock Exchange last night launched an insider dealing investigation into the heavy trading of Saatchi and Saatchi shares, in the four hours before the resignation of three top executives was officially announced.

Acting chairman, Charlie Scott, addressing investors and analysts today, has said that the company’s falling share price was due to “hysterical press coverage” and “a coordinated campaign to destabilise” the group. He also offered the assurance that Saatchis is “still run by people who understand advertising.”

More resignations from senior executives are expected to be announced today.

At 11.00 this morning shares were up 1 to 113.