Yes, all true. And don't forget Chen still DIRECTLY owns about 26% of RENN. This failure to file the annual report notice from the NYSE is not a surprise- they should have filed by the 15th. And it is very suspiciously timed.
It really looks like an effort to keep the price down so insiders can buy more shares before any settlement is agreed to.
DOn't be shaken. Don't sell your shares. That's what they want you to do.
Whether by settlement or by a trial, CHEN and his spinoff company OPI are going to have to payback the assets they stripped out at below market prices. It's worth AT LEAST $20/share.
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