"Why was Michamore & other directors buying shares on market"
OMG I am amazed at how naive people are...
Rodney Adler was buying HIH on market and announced it a dozen times..... he probably spent 200,000 doing so (and he probably laid off those bets with options or CFD's at the time) His stake in the company was massive so he was just trying to protect his investment. The same applies to any director buying under these circumstances.
