They were meant to disclose any knowledge of this as the 15%...

They were meant to disclose any knowledge of this as the 15% movement would have implied that confidentially had been lost, which is the only get out for not disclosing. So even verbal preliminary discussions/knowledge would have had to have been disclosed. At the very least Hotchieff should have told them to do a TH on Friday before issuing the response.

This will run a long way and all Thu/Fri trades will be looked at.