Executives and guests of Renren attend the opening bell ceremony, Wednesday, May 4, 2011, in New York at the NYSE. Photo: AP/NYSE Euronext/Adam Au Minority Shareholders, ADS Holders in Renren Company Settle NY Derivative Action for $300M
"The shareholder derivative suit arises from a highly unusual series of interrelated transactions through which Renren's allegedly corrupt insiders took Renren's investment portfolio for themselves in 2018 to the detriment of minority shareholders," said a news release from Reid Collins, counsel to plaintiff stakeholders in Renren.
October 13, 2021 at 04:46 PM
5 minute read
In what plaintiffs' lawyers are calling one of the largest-ever derivative shareholder recoveries, minority shareholders and American Depository shareholders of the Chinese-founded company Renren will receive at least $300 million.
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