"However if there was news that was important enough to hold for some reason for a short term, they may allow something like this to occur."

I can't see this being the case. The trading would have to be a result of knowledge of material value that would require NOT to halt until an N.R. could be issued, being that the trading is affecting the market regarding NOT. Needless to say the market actions seem to indicate that someone is gaining some sort of advantage owing to the peculiar trading.