as they have a direct say in how the company operates moving forward
and a direct link to Federal authorities if CC does anything illegal. Of course, if they wanted to be linked to illegal activity, they could just ignore it.
If someone owned a large percentage of a company, its not in their own interest to crash the share price by sellign lots of shares.
I'd agree that there could be a few percentage points sold at high price points in the event there weren't trading restrictions in place, but the vast majority of that tied up "paper" wealth would become worthless pretty much instantly.
That's the direct financial impact for any larger holder selling shares (completely aside from having a BOD in place to monitor and stop such practices from occuring).
also, CC won't do anything at the expense of loosing the newly elected BOD, as they have a direct say in how the company operates moving forward...