Moatable Inc ADR (MTBLY)

[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The iBox on RENN is badly out of date.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.