Moatable Inc ADR (MTBLY)

[StockpickerCAPC]

Thanks @Smooth_Legend for your fast reply.

[Smooth_Legend]

https://we.tl/t-4CVvZBbPM9

[StockpickerCAPC]

@Smooth_Legend, please post a Link of the lawsuit, thanks.

[Smooth_Legend]

Renren jumps after judge says defendant must produce document by Monday

May 14, 2021 10:09 AM ETRenren Inc. (RENN)By: Josh Fineman, SA News Editor
Renren (NYSE:RENN) rose 19% after a judge in lawsuit connected to SoFi (NYSE:IPOE) said that the defendants must produce a document by Monday at 5pm.
The judge said the defendants in the case must produce "attachment" by Monday. The short hearing ended abruptly after the judge made his comments.

[StockpickerCAPC]

SoFi Moving Forward With Pre-IPO and SPAC Offering Plans.

source
https://www.fool.com/investing/2021/05/11/sofi-moving-forward-with-pre-ipo-and-spac-offering/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

May 11, 2021 at 4:16PM

The company was named as an underwriter in a recent SPAC registration statement.

SoFi will soon go public through Chamath Palihapitiya's blank-check company Social Capital Hedosophia Holdings Corp. V (NYSE:IPOE). SoFi will serve as an underwriter in an upcoming initial public offering (IPO) for a special purpose acquisition company (SPAC).
The move shows that the online lender is moving forward with its plans to allow retail investors to invest in IPOs and SPACs at the pre-listing stage.
SoFi runs an online brokerage as part of its sprawling financial services organization. Earlier this year, the company said it would make it possible for members with at least $3,000 of cash and settled assets in their SoFi Invest accounts to participate in new offerings before they hit the public markets.

"We have a very different customer base, members who are high earners, not well served," SoFi's CEO Anthony Noto told Reuters back in March. "It's a client base that is interested in investing, is actively managing a portfolio and focused on financial objectives. Their interest is in line with issuers."
Noto also told Reuters that SoFi has already received regulatory approval to run this pre-IPO business and that the company would obtain shares by acting as a "passive" underwriter on certain IPOs or SPACs.

It can be very advantageous to get in on IPOs before they hit the public markets because by the time that some do, their stock price has already appreciated to a high valuation, offering limited upside for retail investors.
And while SPACs have not fared well lately, it can also be advantageous to purchase SPAC units early because you can purchase an ordinary share and part of a warrant for $10 per unit. Fifty-two days after the IPO, SPAC shares and warrants separate.

[StockpickerCAPC]

Social Capital Hedosophia V Will Perform Much Better After Its Name Change.

source
https://finance.yahoo.com/news/social-capital-hedosophia-v-perform-154209773.html

Fri, May 7, 2021, 5:42 PM

As its merger with SoFi gets closer to reality, Social Capital Hedosophia Holdings V (NYSE:IPOE) continues to fall. It appears that IPOE stock was the subject of some short-selling activity that is possibly linked to the delay in the merger. The postponement came after the U.S. Securities & Exchange Commission (SEC) updated its guidance about the accounting treatment of special purpose acquisition company (SPAC) warrants.

But there’s no evidence that the merger will fall through. And as InvestorPlace columnist Vince Martin wrote recently, the merger’s delay won’t impact the value of SoFi. The latter is the company that investors are really looking to bet on. The way I see it, if investors were buying shares of SOFI stock instead of IPOE stock, the share price would be much higher.
With that in mind, those who bought IPOE stock when it began trading in late 2020 are up by over 50%. However, at one point they would have been up about 150%. SPAC fatigue may be a real thing, but investors shouldn’t allow it to have an overly large impact on their belief in the future of SoFi.

SoFi Is Growing Quickly
One criticism of SPACs is that it can be too easy for the target companies to escape the kind of scrutiny that is normally part of traditional initial public offerings. But unlike some companies that go public, SoFi has a significant, growing revenue base. In 2020, SoFi generated net revenue, excluding some items, of $621 million . And the company is forecasting that its revenue will reach $1 billion in 2021.
In the third quarter of 2020, SoFi’s sales jumped about 60% year-over-year to $200 million. And that’s partly because the company continues to add members. At the end of 2020, it had approximately 1.9 million unique members.

What may be even more impressive than those numbers is that SoFi expects to deliver positive EBITDA in 2021. When I last wrote about IPOE stock in early April, SoFi’s inability to achieve profitability was my largest source of concern about it.
The company is also forecasting that its revenue will grow to approximately $3.7 billion by 2025. And if, as expected, SoFi is able to obtain a national bank charter after its $22.3 million acquisition of Golden Pacific Bancorp (OTCMKTS:GPBI), that projection may prove to be too conservative.

A Source For Innovative Solutions
JP Morgan Chase (NYSE:JPM) CEO Jamie Dimon recently remarked that fintech companies presented a significant threat to traditional banking. And he could have had SoFi in mind. The company continues to provide innovative solutions that cater to younger people who are most likely to embrace a shift away from traditional banking.

One of the company’s latest innovations is a credit card with no annual fee that allows members to redeem their reward points in cryptocurrency.
And another InvestorPlace contributor, Dana Blankenhorn, also pointed out other SoFi assets, such as its SoFi brokerage which competes with Robinhood. SoFi bought the payment processor Galileo for $1.2 billion.

IPOE Stock Is Still Worth Buying
Some SPACs look worse as their merger dates approach. That’s not the case with Social Capital Hedosophia Holdings V; it looked good when the target, SoFi ,was announced. and it looks better as the merger date approaches.
Once the merger is complete and IPOE stock becomes SOFI stock, it seems likely that the shares will go up. SoFi is a fintech company that isn’t waiting for its public trading debut to become disruptive to the traditional financial sector. And the company is forecasting what appears to be measured and achievable goals.
Chamath Palihapitiya isn’t batting 1.000 when it comes to his SPAC partners. But the art of investing requires discernment. In this case, Palihapitiya has made a good choice, and the selloff of IPOE stock appears to be overdone.

-----------------------------------------------------------------------------------------------------------------------------------------------

SoFi Announces Agreement to Acquire Golden Pacific Bancorp, Inc.

source
https://finance.yahoo.com/news/sofi-announces-agreement-acquire-golden-121500991.html

March 9, 2021

Acquisition Marks Significant Step in SoFi’s Effort to Obtain National Bank Charter.



Social Finance, Inc. ("SoFi"), the digital personal finance company, today announced that it has signed a definitive agreement to acquire Golden Pacific Bancorp, Inc. (OTCPK: GPBI) and its wholly owned subsidiary Golden Pacific Bank, N.A. (together, "GPB"). GPB is a Sacramento, California-based community bank that is regulated by the Office of the Comptroller of the Currency (OCC) and has approximately $150 million in assets. SoFi will pay $2.55 in cash for each share of GPB or approximately $22.3 million in aggregate to acquire GPB to advance SoFi’s effort to obtain a national bank charter.

The proposed acquisition is a key strategic step in SoFi's path to obtaining a national bank charter. As a result of the proposed acquisition, SoFi will switch its current de novo bank application to a change of control application. If successfully granted a national bank charter by the OCC and Federal Reserve pursuant to its change of control application, SoFi plans to contribute $750 million in capital and pursue its national, digital business plan while maintaining GPB’s community bank business and footprint, including GPB’s current three physical branches. Once the transaction is complete--which is anticipated before the end of 2021--GPB’s community bank business will operate as a division of SoFi Bank, N.A., a renaming of GPB's bank entity. GPB President and Chief Executive Officer Virginia Varela will continue to lead the GPB community bank business under the direction of Paul Mayer, who will serve as President of SoFi Bank, N.A.

"We believe that by pursuing a national bank charter, we will be able to help even more people get their money right with enhanced value and more products and services," said Anthony Noto, CEO of SoFi. "We are thrilled to have found a partner in Golden Pacific Bank to both accelerate our pursuit to establish a national bank subsidiary, as well as begin to expand our offerings in SoFi’s financial products and Galileo’s technology platform to serve local communities. We look forward to working with Virginia and her team."

"We’re excited for this new partnership with SoFi and the strength it will bring to enhance our ability to serve our customers at the highest level," said Virginia Varela, President and CEO, Golden Pacific Bank, N.A. "We will continue our commitment to bringing more services and convenience for our individual customers, small businesses, and the communities that we serve in Sacramento and surrounding counties."

A national bank charter will allow SoFi to accept deposits and make loans that use SoFi’s member deposits versus the higher cost of funding for its loan offerings as a non-bank, creating greater efficiency, and enabling the company to offer more choices and compelling value to its customers. SoFi received preliminary conditional approval from the OCC in October 2020 for its de novo bank plan. SoFi expects to file shortly with the Federal Reserve for Bank Holding Company status and, together with GPB, to file an updated business plan with the OCC.

The transaction is subject to regulatory approvals from the OCC and the Federal Reserve, and other customary closing conditions.

GPB has received shareholder approval for the transaction. Wachtell, Lipton, Rosen & Katz is serving as legal advisor and Piper Sandler & Co. is serving as financial advisor to SoFi. Janney Montgomery Scott LLC is acting as financial advisor and Hogan Lovells US LLP is acting as legal advisor to GPB.

About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over 1.8 million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit
https://www.sofi.com/
or download our iOS and Android apps.

Contacts
Rachel Rosenzweig
Senior Director, Communications and Policy
[e-mail]

About Golden Pacific Bancorp, Inc.
Golden Pacific Bancorp, Inc. is a bank holding company with consolidated assets of approximately $150 million. Golden Pacific Bancorp, Inc. conducts business through its banking subsidiary, Golden Pacific Bank, N.A. Golden Pacific Bank, N.A. is a full service community business bank committed to providing exceptional personal and business banking services in and around the Sacramento region, with branches in Sacramento, Yuba City and Live Oak. Additional information about Golden Pacific Bancorp, Inc. may be found at
https://www.goldenpacificbank.com/

[Smooth_Legend]

$IPOE & @SoFi update: The S-4 SPAC merger is now effective with the SEC. We will start emailing & mailing proxy statements to shareholders of $IPOE (as of 4/29) to vote ahead of the shareholder meeting on 5/27. We intend to close the deal on 5/28 & start trading as $SOFI on 6/1.

[downthehatch]

After a very rapid rise, a little pause today.
This could be the last time to load up on this, before it hits it's 0ne year high at 11.84.

Once it gets past 11.80, who knows.

There was a lot of short interest here. Not sure whether those have been covered or not.

[downthehatch]

Another big day for RENN.
Settlement coming, IMO.

A settlement is unlikely to include SoFi shares, IMO. Most settlements are cash, for simplicity and ease of execution.

[Smooth_Legend]

I hope that settlement includes shares of SoFi and not just cash. SoFi is very undervalued.

[downthehatch]

A post on the SoFi SPAC board, IPOE, says that Joseph Chen is no longer shown as a Board member of SoFi. So maybe the pressure is indeed mounting to get this lawsuit resolved.

(Note: I have not independently read the revised IPOE S-4 document-- I am simply reporting what someone else posted.)

But that might partially explain the big rise today. If Chen wants to be involved w SoFi, he needs to get rid of the shareholder's derivative lawsuit. The only quick and easy way to do that?

A settlement.

[Smooth_Legend]

Can’t think of better timing for the settlement announcement than after this weekend on monday. Taking account SoFi SEC post

.@SoFi Investor Relations here with an update on our process of going public. We just refiled an amended S-4 with the SEC to reflect the new accounting guidance on SPAC warrants and we look forward to hearing back from the SEC. $IPOE (1/2)

— SoFi Investor Relations (@SoFiIR) April 22, 2021

[downthehatch]

It is certainly possible that the value of the settlement could be higher. I was simply posting that I'm not interested in selling after this 2 day 15-20% rise.

I do caution that a settlement, by its nature, is generally a little less than the actual value claimed by the plaintiffs. Otherwise, it makes little sense for the defendants to settle.

Also, a settlement is usually expressed as a straight cash amount not a transfer of shares, even when the allegation is that shares were illegally or wrongfully transferred. That's mainly because transferring shares gets complicated with timing, fluctuating prices, etc. which makes reaching a settlement amount that much more complicated.

[Smooth_Legend]

If we get $500M worth of SoFi shares (at $8.6B valuation) transferred into $RENN and $IPOE appreciates 3.5x, then we would have $1.75B, divide it with today's market cap we get 7.8, multiply it with today's stock price $9.47, and after this scenario $RENN will be worth $74 per share.

Don't sell at $15

[downthehatch]

A lot of buying today.
With a settlement looking more and more likely, selling now looks like a very bad idea.

I'm going to want to get at least $15-20 to sell any of my shares.

HOLDING or BUYING dips is the only strategy for this.

[downthehatch]

Here's a YouTube video that explains the whole value of RENN:

[downthehatch]

FYI:
According to Yahoo Finance, 49% of RENN shares are held by insiders.
That includes the 26% held by Joseph Chenn, the RenRen CEO and SoFi Board Member.

It's always a good thing when company insiders have a big stake in the performance of the stock. 49% is a very high percentage.

[downthehatch]

Bargain price today.
Just buy it.

You'll thank me when the settlement is announced in the shareholders derivative lawsuit. The settlement ALONE is worth well over $10/share.

This is a no-brainer. I bought more this morning.

[Smooth_Legend]

Agreed.

[downthehatch]

People ignoring a big windfall on the way here.

The derivative lawsuit WILL settle, IMO.

Why?

3 reasons:
1. It's delaying and complicating Chamath's SPAC deal (IPOE) to take SoFi public.
2. If Joseph Chen wants to be on the board of the public SoFi, he needs the derivative lawsuit gone.
3. Because Chen owns about 26% of RENN, a settlement really only costs him 75% (at most) of the settlement amount, since he collects the funds in one hand that he's paying out in the other.

A settlement solves a LOT of problems for Joe Chen and SoFi.

[downthehatch]

Judge enters "Show Cause" order. Filed on April 15; posted this morning on the NY Supreme Court website.

Chen and his affiliated companies now under court order to respond as to why they should not be enjoined from selling any more SoFi shares.



Here is the order:
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
---------------------------------------------------------------------X
IN RE RENREN, INC.
DERIVATIVE LITIGATION
---------------------------------------------------------------------X
Index No. 653594/2018
Motion Seq. No. 015
ORDER TO SHOW
CAUSE
Upon reading and filing of the Affirmation of Jeffrey E. Gross, counsel for
Plaintiffs Heng Ren Silk Road Investments LLC, Oasis Investments II Master Fund
Ltd., and Jodi Arama (“Plaintiffs”) in the above-captioned action, together with all of
the exhibits annexed thereto, Plaintiffs’ accompanying memorandum of law, the
Amended and Supplemental Complaint (NYSCEF Doc. No. 405), and upon all prior
pleadings and proceedings in this action, and cause being alleged,
NOW, upon motion of Plaintiffs,
LET Defendants Oak Pacific Investments, Renren Lianhe, and Renren SF
(collectively “OPI”), or their attorneys, SHOW CAUSE, before this Court, at Part 53,
Room 659 at 60 Centre Street, New York, New York, on the 14th day of May, 2021
at 9:30 a.m., or as soon thereafter as counsel may be heard, as to why an Order
should not be granted:
(a) Pursuant to DCL §279 (2019) and CPLR 6301, restraining Defendants
Oak Pacific Investment, Renren SF Holdings, Inc., and Renren Lianhe
Holdings (collectively, “OPI”) and any of those Defendants’ agents,
attorneys, or others acting in concert with it or them from selling,
FILED: NEW YORK COUNTY CLERK 04/16/2021 08:50 AM INDEX NO. 653594/2018
NYSCEF DOC. NO. 443 RECEIVED NYSCEF: 04/15/2021
1 of 32
exchanging, encumbering, hypothecating, dissipating, converting,
transferring, or otherwise disposing of any shares of Social Finance, Inc.
(“SoFi”), or the proceeds of those shares, including shares of SoFi
Technologies, Inc. following the closing of the SoFi SPAC merger, or any of
OPI’s other investment assets originally transferred from Renren, subject
to the provisions of section (b);
(b) OPI may engage in a transaction otherwise in violation of any restraint
ordered by this Court upon receipt of Plaintiffs’ written consent following
a written request with full disclosure to Plaintiffs of the terms of the
proposed transaction; if Plaintiffs do not consent to a proposed
transaction, OPI may make a motion seeking Court approval of the
transaction upon a finding that OPI would receive fair value in exchange
for the shares;
(c) in the alternative to sections (a)-(b) above, prejudgment attachment under
CPLR 6201 and 6212;
(d) setting an appropriate undertaking in an amount to be determined;
(e) awarding Plaintiffs the costs of this motion, including reasonable
attorneys’ fees; and
(f) for such other and further relief as the Court may deem just and proper.
ORDERED that answering papers, if any, shall be served upon Plaintiffs’
attorneys on or before the 30th day of April, 2021.
ORDERED that any reply papers, if any, shall be served upon Defendants’
FILED: NEW YORK COUNTY CLERK 04/16/2021 08:50 AM INDEX NO. 653594/2018
NYSCEF DOC. NO. 443 RECEIVED NYSCEF: 04/15/2021
2 of 33
counsel on or before the ___ day of ________, 2021.
IT IS FURTHER ORDERED that sufficient cause being alleged, therefore,
service of a copy of this Order, together with the papers upon which it is based,
shall be made upon Defendants by the e-filing of this Order. An affirmation or other
proof of service shall be presented to this Court on the return date fixed above.

Signed: //Judge Andrew Borrok//

Note: the underlined section was crossed out by the judge in the filed order. The motion will be heard/decided on May 14, 2021. Not a lot of time before Chen is prohibited from selling any further SoFi shares.

[Smooth_Legend]

Wow, what a scumbage this Joe Chen continues to be. Brings also bad light to Stanford University.

Thank you for your DD and thank you Reid Collins & Tsai LLP!

[downthehatch]

iBox is now relatively up-to-date.

You're welcome.

[downthehatch]

I bought more this week, by the way.

It's a screaming buy here, trading well below it's recent $11.00 52 week high.

A settlement will AT MINIMUM double the price.

[downthehatch]

The iBox on RENN is badly out of date.
This stock is no longer a social media play, it is almost purely a play onn the litigation In Re: RenRen, now pending in NY Supreme Court.

Basically, the lawsuit is a derivative lawsuit on behalf of RenRen against Joseph Chen and other insiders who stripped the value from RENN by selling assets at below-market prices to entities they controlled, in order to take the assets private after they failed in a public going private deal, where they tried to buy out the company at a bit over $5.00/share.

The Plaintiffs have survived a vigorous legal effort to get the case dismissed, and that decision was upheld on appeal.

Just this week, the Plaintiffs filed a motion for injunctive relief or pre-judgment attachment, after presenting strong evidence that Chen was attempting to sell SoFi stock that came from RENN at below market prices, to put it out of reach of the court.

That activity will not be viewed with favor by the judge.

A settlement could add from $15-20/share or potentially more to the value of RENN ADR shares.

[downthehatch]

Lawyers in In Re: RenRen have now filed a motion for injunction or pre-judgment attachement in the case, to prevent Chen from selling off additional SoFi shares at below market prices.

This puts additional pressure on Defendants to settle.

Link to document in NY Supreme Court:
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=QgAiVaUpT6JYEFAxlqVgXA==&system=prod

[downthehatch]

Everyone is entitled to their opinion of course, but I would prefer a settlement in 2021 to waiting 3-4 years for a verdict and the subsequent appeals which would inevitably follow a large verdict.

[Smooth_Legend]

No one cares what Joe at this point thinks and we don’t need to settle before SoFi IPO. Jury will give us 5x of damages whatever Joe offers. I’ve read the whole complaint and I say it’s done deal, game over for him. Relax and let it ride into $200+.

[downthehatch]

The key to a settlement happening is it must make sense for BOTH sides. Your comment that it would be dumb to do a settlement before the SoFi stake doubles or triples is looking at it only from the perspective of RENN shareholders.

A settlement also has to make sense for Chen, and he of course wants to pay less in a settlement, so he should be incentivized to settle before the merger is complete.

While a settlement now at a slightly lower amount might be "dumb" for RENN shareholders, it also is the proverbial "bird in the hand" as opposed to speculative value down the road.

[StockpickerCAPC]

Renren Announces a $6 Million Equity Investment in Kaixin Auto.

source
https://finance.yahoo.com/news/renren-announces-6-million-equity-210000680.html

BEIJING, April 6, 2021

Renren Inc. (NYSE: RENN) ("Renren" or the "Company") announced today that Renren has made a $6,000,000 equity investment in Kaixin by subscribing Kaixin Auto Holdings' ("Kaixin") newly designated convertible preferred shares. The preferred shares are convertible into Kaixin's ordinary shares at a conversion price of $3.00, subject to customary adjustments pursuant to the purchase agreement entered into between Renren and Kaixin, which agreement will be included as an exhibit to a Form 6-K to be furnished by Kaixin to the U.S. Securities and Exchange Commission.

About Renren Inc.
Renren Inc. (NYSE: RENN) operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) as well as several US-based SaaS business. Renren's American depositary shares, each of which currently represents fifteen Class A ordinary shares, trade on NYSE under the symbol "RENN".

[Smooth_Legend]

Think how much more SoFi stake is worth after the IPOE merger and stock doubling or tripling. No settlement before this, it would be dumb.

[downthehatch]

I'd be surprised to see this case make it to a jury. Much more likely to be settled, especially because Chen wants to stay active with SoFi, and he likely cannot do so while this case continues to be active, especially with SoFi going public through the IPOE SPAC.

He needs to get the derivative litigation settled, and the only question now is how much that settlement will be. I suspect more than $250 million, but less than a billion.

I could be wrong, but that's my gut feeling on the settlement value to both sides.

[Smooth_Legend]

Joe Chen will be made posterboy of what happens when Chinese scam US investors. Expect to see $2B settlement or more from the jury. https://en.wikipedia.org/wiki/The_China_Hustle

[StockpickerCAPC]

New York Appellate Court Upholds Renren Derivative Litigation, Rejects Insider Defendants’ Arguments.

source
http://www.digitaljournal.com/pr/5012192

Mar 19, 2021 17:47 UTC

National trial boutique Reid Collins announces a major win for the Plaintiffs in the In re Renren, Inc. Derivative Litigation, pending in New York State Court alleging a complex scheme by Renren insiders to squeeze out minority shareholders and take the company’s billion-dollar investment portfolio for themselves.
In May 2020, Reid Collins defeated all five motions to dismiss filed by the defendants. On March 18, 2021, the Appellate Division, First Judicial Department of New York State Supreme Court affirmed the trial court’s denial of all the motions to dismiss and rejected defendants’ arguments over personal jurisdiction and contending that plaintiffs lack standing under Cayman Islands law.

The shareholder derivative suit arises from a highly unusual series of interrelated transactions through which Renren’s allegedly corrupt insiders took Renren’s portfolio for themselves in 2018. The complaint asserts claims for, among other things, breaches of fiduciary duty in connection with the transfer of Renren’s most valuable assets — for far less than fair market value — to a private company owned and controlled by Renren’s CEO Joseph Chen and other controlling stockholders, including affiliates of SoftBank Group Corp. and DCM Ventures.

The complaint seeks more than $500 million in damages.

The case is captioned In re Renren, Inc. Derivative Litigation (Heng Ren Silk Road Inv. LLC and Oasis Inv. II Master Fund Ltd., derivatively on behalf of Renren, Inc. v. Chen, et al.,) No. 653294/2018 (N.Y. Sup. Ct.)

About Reid Collins
Reid Collins & Tsai LLP is one of the nation’s leading plantiffs’ trial firms, litigating complex business disputes and achieving billions of dollars in settlements and judgments for its clients. Its team is comprised of accomplished trial lawyers, including former federal prosecutors, who have extensive experience prosecuting financial fraud and corporate malfeasance cases, bankruptcy and insolvency related litigation, professional liability claims, and cross-border disputes. The firm represents fund managers, investor groups, trustees, receivers, liquidators, international banks, companies, and individuals in federal and state courts across the country.
For more information visit
https://reidcollins.com/

Alexander Coxe
212.365.4792
[e-mail]
Amanda Lornson
512.647.6117
[e-mail]

[downthehatch]

Derivative lawsuit explanation.
How shareholders benefit from a derivative lawsuit like In Re Renn lawsuit now pending:
https://www.blbglaw.com/misc/faq/securities/00021

[downthehatch]

Appeal of RENN derivative action is denied. Great news for RENN shareholders.
Renn appeal affirms decision in favor of shareholders


Settlement coming soon, IMO

[downthehatch]

Great buy-in opportunity here.
The company needs to settle pending shareholder derivative lawsuit so it can go forward with other corporate activities.

It's coming.
Don't say you didn't get a heads-up on this one!

[downthehatch]

Unbelievable Opportunity here:
Full analysis in this story---
https://seekingalpha.com/article/4406707-renren-shareholders-claim-huge-sofi-stake-via-little-noticed-legal-fight?mail_subject=renn-renren-shareholders-claim-huge-sofi-stake-via-little-noticed-legal-fight&utm_campaign=rta-stock-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha

[downthehatch]

Huge swings in daily trading here.

Low of 7.80-- high of P.34

Not sure what's going on, but it sure is volatile.

[downthehatch]

News: New partnership with RENN subsidiary:
https://apnews.com/press-release/globe-newswire/technology-business-arizona-professional-services-phoenix-d023afa81f15f7f951693bd95cd0c0d1

[downthehatch]

From a chart perspective, this looks like it wants to retest the $5.00 levels hit in May.

[CINCY_4MONEY]

high volume it could be shorts are covering. stock split is comming up !!!!

[CINCY_4MONEY]

short Squeeze. short need to cover soon this going off roof soon

[whytestocks]

NEWS: $RENN Did Fiverr (FVRR) Push These Penny Stocks Higher This Week?

Has Fiverr (FVRR) Stock’s Epic Rally Pushed Certain Penny Stocks Higher In September 2020? When it comes to penny stocks , we always talk about a sympathy trade as a potential reason for momentum. What is a sympathy trade ? Generally speaking, a sympathy trade is when a larger company...

In case you are interested RENN - Did Fiverr (FVRR) Push These Penny Stocks Higher This Week?

[ClayTrader]

* * $RENN Video Chart 09-10-2020 * *

Link to Video - click here to watch the technical chart video

[CINCY_4MONEY]

this stock is dead...fake facebook of china

[willlbone]

Bid 99 cents.

[whytestocks]

News: $RENN Renren Announces Changes in Board and Committee Compositions

BEIJING , July 27, 2020 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), which operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) ("Kaixin") as well as several U.S.-based SaaS businesses, today announced...

Read the whole news RENN - Renren Announces Changes in Board and Committee Compositions

[CINCY_4MONEY]

This stock should be trading in 50's shorts will get squeezed soon

[gapole]

made it to 5 and still inching along. Think it will hit $7 by June 8