Moatable Inc ADR (MTBLY)

[downthehatch]

Another buying opportunity in RENN today, as some are selling based on the filing of an motion to intervene by some former shareholders. And a filing by defendants to stay the proceedings during the appeal, or alternatively to dismiss the case brought by the current Plaintiffs. (which is a nice Hail MKary, but highly unlikely to be granted)

Certainly, based on Judge Borroks ruling, it would be surprising NOT to see some new parties intervene and try to get a slice of the $300 million.

But nothing has changed, fundamentally.

The case is still a derivative action, and that means there is absolutely no case law support for Borrok's decision. I still am confident the decision will be reversed, and I bought some more on the drop today.