-Caveat Lector-

Euphorian spotted this on the Guardian Unlimited site and thought you should see it.

To see this story with its related links on the Guardian Unlimited site, go to 
http://www.guardian.co.uk

Buffalo Grill sellers cause stampede
Jon Henley in Paris
Wednesday January 08 2003
The Guardian


An avalanche of sell orders cost shares in the scandal-hit French steakhouse chain 
Buffalo Grill more than half their value yesterday as the stock resumed trading for 
the first time since December 18.

Trading in Buffalo Grill had to be delayed at the start of the session because there 
were "way too many sell orders", one trader said, and by lunchtime the share was 
changing hands at 5.50 euros, little more than 40% of its pre-opening value.

Four top managers of the company and its purchasing subsidiary, Districoupe, are under 
formal investigation, one step short of being charged, in an investigation by judge 
Marie-Odile Bertella-Geffroy into a number of deaths in France from the human form of 
mad cow disease.

At least two of the victims were alleged to be frequent customers at Buffalo Grill, 
which has 150 restaurants in France and 50 in the rest of Europe. The chain is said to 
have imported British beef between 1996 and 2000, when the meat was banned in France 
because of fears it could be tainted with the brain-wasting disease.

In an exceptional step yesterday, Ms Bertella-Geffroy wrote to the Paris public 
prosecutor to ask for the inquiry's initial evidence against Buffalo Grill to be made 
public in an attempt to prove the continuing necessity of her investigation and halt 
media speculation.

The company's founder and supervisory board chairman, Christian Picard, made the same 
request - for the opposite reasons - last week, asking the French prime minister and 
justice minister to order the release of all relevant documents to show that the case 
against the chain was "inconsistent, dishonest, and completely empty of any telling or 
serious element".

Mr Picard's lawyer, Jean-Pierre Versini-Campinchi, said the public prosecutor's 
assertion that the documents were covered by French judicial secrecy laws was becoming 
"more and more untenable". A growing number of "well-directed and carefully organised 
leaks" to the press made publication of the entire dossier essential, he said.

Emeric Ernoult, another Buffalo Grill lawyer, said one such leak - to Le Canard 
Enchainé - was "just a lot of fuss about nothing". The satirical magazine printed 
an apparently incriminating email from a quality control manager referring to meat 
"from the mad cow disease period" which "must be got rid of".

Mr Ernoult said the mail referred to stocks of Argentinian and Brazilian beef built up 
in 2001, when a number of new cases of mad cow disease were coming to light in France.

Copyright Guardian Newspapers Limited

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