Facebook co-founder Moskovitz scrambles to offload his shares

Unless my math is off, or I'm misreading the article... that's about 1% of his total shareholding he's sold. How is this a scramble to offload shares? It seems more like a pretty minor (and sensible) liquidity transaction.

I would love if these articles more accurately described the situation as ...

  "Moskovitz joins a number of early investors who are now
  unloading shares to diversify their investment portfolio
  as is common with many people who've previously had the 
  majority of their net worth tied up in one investment."

... instead of ...

  "Moskovitz joins a number of early investors who've jumped 
  at the chance to reduce their stake in the social network 
  after its dismal IPO and subsequent lack of popularity with 
  traders."

He sold 1.3m shares out of the 113mil he has? "Scrambles to offload his shares" = 1.1%?

Rats leaving a sinking ship comes to mind...