Renren Investor Suit Persists As NY Judge OKs Jurisdiction

Law360 (May 21, 2020, 10:07 PM EDT) -- A derivative shareholder suit involving Chinese social media company Renren Inc., certain company executives and their financial adviser that claims shareholders were cheated out of $500 million can move forward in New York state court after a judge ruled that the court can assert jurisdiction over defendants.

In a decision published Wednesday, New York Supreme Court Justice Andrew Borrok found that it was appropriate for minority Renren shareholders to bring claims of breach of fiduciary duty in New York state against nominal defendant Renren, a Cayman Islands company based in China; CEO Joseph Chen and controlling shareholder David Chao; and investment...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!