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New York State Supreme Court upholds derivative claims against corporate insiders of Renren, Inc. under New York law and Cayman Islands law
February 07, 2021
Gardy & Notis, LLP is co-lead counsel for investors suing certain current and former directors and other insiders of Renren, Inc., aided and abetted by Duff & Phelps, for transferring Renren's investment portfolio to an entity controlled by Renren's CEO at a severely undervalued price.

On May 20, 2020, Justice Andrew Borrok of the Supreme Court of the State of New York, New York County, Commercial Division, issued a Decision and Order denying the motions filed by five different groups of Defendants seeking to dismiss the case.

The case is In re Renren, Inc. Derivative Litigation, Index No. 653594/2018, in the Supreme Court of the State of New York, New York County, Commercial Division.

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