Link to New York Supreme Court SCROLL system wher you can find and read about the derivative lawsuit In Re: RenRen, Case #653594-2018-- SCROLL (state.ny.us)
RenRen used to be a social media company in China, but is no longer. It now owns Kaixin, a China-based used car business, and Chime, a real estate software system.
As of 2020, the real value is the money that will be coming back to shareholders through either a settlement or a verdict in the In Re: RenRen litigation, which is worth potentially $500 million dollars.
Here is the company description from it's current website:
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 U.S.-based SaaS businesses.
Our used automobile business provides car purchasers in China with access to a wide selection of used vehicles across our network, with a focus on premium brands such as Audi, BMW, Mercedes-Benz, Land Rover and Porsche. In addition, we arrange financing options for customers through Ping An Bank and other financial services partners. We also offer value-added services including warranties, insurance and after-sale products and services. Our after-sale products and services include registration, detailing, maintenance and accessories. Our used automotive sales are growing rapidly. As of March 31, 2019, we had 14 dealerships in 14 cities across 12 provinces in China.
Our SaaS business began with our launch of Chime in August 2016 and it was further expanded by our acquisition of Geographic Farming, LLC, in August 2017. Chime is an all-in-one real estate solution provider and Geographic Farming is a 360° real estate marketing and media service provider. Unlike our other businesses, our SaaS business is currently focused on the U.S. market rather than the China market.
Renren is listed on the New York Stock Exchange under the ticker symbol RENN.
Link to company website: Overview | Renren Inc. (renren-inc.com)