Sure.
In Re: RenRen is a shareholders derivative lawsuit. The case involves shares of SoFi stock that were taken into a controlled spinoff by Joseph Chen, the CEO of RENN and a Director of SoFi. The lawsuit alleges he did this in away that benefitted him, and injured the other shareholders. A motion to dismiss was defeated, and that decision upheld on appeal. The court has now ordered that no further shares of SoFi be disposed of by the Chen-controlled entity.
Since Chen is a SoFi board member, and the lawsuit alleges wrongdoing by Chen, it would have to be disclosed in any future filings by IPOE or SoFi relating to the merger. Either that, or Chen would have to give up his board seat.
Since he likely doesn't want to do that, a settlement is the easiest way to get rid of this messy matter, and keep it out of any required filings. Chalmath certainly doesn't want a filing with a paragraph about a SoFi board member involved in a shareholders derivative lawsuit.
Since Chen owns over 25% of RENN, a settlement won't really cost him whatever he settles for, since 25% of the settlement comes right back to him in his shares.
When this lawsuit is settled, I'd expect RENN shares to get a windfall of between $10 - $20 a share.
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