- Renren spun off a portfolio of holdings, including a highly valuable stake in SoFi, in 2018 in an oddly-structured deal.
- A group of shareholders, including famed activists Oasis, have sued Renren to recover this stake claiming gross foul play in that transaction.
- A New York Supreme Court justice sided with shareholders and denied the defendants' efforts to dismiss the lawsuit.
- The pending lawsuit threatens to be a thorn in SoFi's side right as it plans to go public in Q1 this year.
- The case may be settled shortly, resulting in an incredible recovery for Renren's shareholders.
For further details see:
Renren: Shareholders Claim Huge SoFi Stake Via Little-Noticed Legal Fight