GameStop director unloads $60 million worth of stock

In a move drawing a lot of industry attention, GameStop director Leonard Riggio has sold 2.3 million shares of the company’s stock.

He earned $60.2 million from the sale and reduced his ownership in the game retail company from 6.9 percent to 5.5 percent. The timing seems odd as the sale comes right before the holiday season, when GameStop generally expects to make billions. The holiday season of 2009 is packed with potential sales blockbusters including Call of Duty: Modern Warfare 2 and New Super Mario Bros.