While this Brighthub article tends to focus on the timing of the sale, pointing out that Age of Conan has already lost nearly half of its customers, no official connection has been made. However, the stock's price has fallen quite dramatically lately, closing at $13.60 per share on August 22, 2008, which is down from $55.50 per share on Age of Conan's release in May.
Update: This is a take on the Brighthub article more than anything, blaming AoC for everything, not to be confused with this original post. Plus, we get a look at the actual announcement about the stock sales itself. Sorry for any confusion of duplicates.