You're saying that VCs (i.e. funds that do not invest in public companies) figured out they're too leveraged and had to sell the (public!) share of LinkedIn exactly as LinkedIn announced horrible results/outlook?
A few things in the above explanaiton aren't completely consistent...
And cannot choose to just liquidate these shares whenever they want. There are rules, and these things require multiple months advance warning and lock in.
A few things in the above explanaiton aren't completely consistent...