Riverdeep shares rise on assurances

Riverdeep shares have continued the recovery started on Monday, reversing the trend of last week which saw a major overall fall in the share price.

Last week's fall was due to the sale of the shares by IBM and Gore Technology following the ending of a period of lock-in.

Recovery this week was prompted by the news that other major shareholders, including the CEO Barry O'Callaghan and founder Pat McDonagh have lock-in agreements which will not expire until the middle of next year. This reduces the likelihood of further large sales of the shares in the near future.