Moatable Inc ADR (MTBLY)

[Chrysanthemis]

The article explains that the judge Borrok, at a status conference today, said that he would approve a settlement which would give some 40-50 MUSD less to the plaintiffs' lawyers and allocate that amount to the former shareholders instead.

"The judge confirmed that the remainder would go to current shareholders - about $199 million – net of our fees."

The article concludes that the reasonably likely downside for current RENN shareholders would now be a $25.80 distribution before the end of this year which is the per share value of the $199 million net settlement, and ends by stating that the share has several dollars of remaining value.

Possibly the judge understood in the meantime that his previous decision had no basis in law, and now tries to save face.