Party Gaming founders offload their shares

Since the four founders of Party Gaming started selling off their shares over a week ago, the company's stock has become somewhat rocky this week.
The founders sold off over 190 million shares. To make matters worse, two of the founders Dikshit and Bhargarva stepped down from the Board.
Bhargarva resigned his position as marketing director while Dikshit announced that he was transferring his focus to the product development department.
Founders Anurag Dikshit offloaded almost sixty million shares. This lowers his overall stake to just under thirty percent. Alternatively, Vikrant Bhargava sold almost seventy million shares, leaving him with a mere 6.96 percent. On the other hand, Ruth Parasol and her husband, Russell DeLeon, both sold around 33 million shares, leaving each with just under fifteen percent of the company.
The four founders still own over fifty percent of the company.
According to the four, they would not continue to sell any more shares without the formal consent of investment brokers and bankers Dresdner Kleinwort Wasserstein.
To calm fears, the Gaming Party founders emphasized their responsibility to maintaining its Gibraltar base — and beneficial tax status — the founders have to maintain a majority holding until 2010.
Additionally, the founders have to give at least one year's notice if they intend to sell hold less than fifty percent of the company.

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