Shareholder Derivative

Investors claim in Manhattan state court that after the $777 million IPO for Chinese social media network Renren, its founder used that money to turn the company into a de facto venture capital fund and then cut out minority investors by spinning the company off into a new subsidiary.

MANHATTAN – Investors claim in Manhattan Supreme Court that after the $777 million IPO for Chinese social media network Renren, its founder used that money to turn the company into a de facto venture capital fund and then cut out minority investors by spinning the company off into a new subsidiary.

Categories / Business, Securities

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Shareholder Derivative

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