RENN - RENN STOCK NEWS

On November 4, 2021, Renren Inc. (NYSE: RENN) announced its Annual General Meeting (AGM) scheduled for December 17, 2021, in Phoenix, Arizona. The AGM will consider a proposed change of the Company’s name to 'Moatable, Inc.' and the adoption of a 2021 Share Incentive Plan. The record date for shareholders eligible to vote is set for November 15, 2021. Investors holding ADSs must act through Citibank, N.A. to vote. Renren operates SaaS businesses, including Chime and Trucker Path.

Renren Inc. (NYSE: RENN) announced a Stipulation of Settlement regarding ongoing shareholder derivative lawsuits in New York. The proposed settlement will create a fund of at least $300 million for Renren shareholders, pending court approval. The fund distribution will be based on the number of shares held by Class A ordinary and ADS shareholders. The Record Date will be set after court approval, and there are inherent risks that the settlement may not be finalized. The company operates several SaaS businesses, including CRM and marketing platforms.

Reid Collins & Tsai LLP announced a direct pay settlement exceeding $300 million in the In re Renren, Inc. Derivative Litigation (NYSE: RENN). This landmark settlement resolves allegations of insider misconduct involving Renren's billion-dollar investment portfolio, notably involving a gross undervaluation in transactions to private firm OPI. This case establishes a significant precedent, enhancing protections for investors against cross-border fraud.

Renren Inc. (NYSE: RENN) announced the appointment of Chris Palmer as Chief Financial Officer, effective September 6, 2021, succeeding Lucy Yang. Yang will continue as CFO of Kaixin Auto Holdings (NASDAQ: KXIN). Palmer brings extensive experience from Twist Bioscience and Televerde, and has held roles at Intel Corporation. His expertise in scaling businesses is expected to enhance Renren's growth strategy in the SaaS sector. The company operates multiple U.S.-based SaaS businesses, including Chime and Trucker Path.

Renren Inc. (NYSE: RENN) announced its filing of the annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC. The report was filed on May 27, 2021, following a notice from NYSE Regulation regarding non-compliance due to the late filing. The delay was attributed to the time needed for preparing audited financial statements, as detailed in Form 12b-25 submitted on April 30, 2021. The 20-F report, which includes audited financials, is available on the SEC and company websites.

Renren Inc. (NYSE: RENN) has received a notification from NYSE Regulation for failing to timely file its Annual Report on Form 20-F for the year ended December 31, 2020. The delay is primarily due to extended preparation time for the audited financial statements. NYSE will monitor the situation for up to six months, after which failure to file may lead to potential suspension or delisting. The Company is committed to filing the report as soon as possible.

Renren Inc. (NYSE: RENN) has announced a $6 million equity investment in Kaixin Auto Holdings by subscribing to newly designated convertible preferred shares. These shares can be converted into Kaixin's ordinary shares at a price of $3.00, subject to customary adjustments. This investment enhances Renren's presence in the used auto market in China through its subsidiary, Kaixin. The purchase agreement will be made available in a Form 6-K to the SEC.

Renren Inc. (NYSE: RENN) reported an 80.9% decline in total net revenues to US$41.2 million for H1 2020, heavily impacted by the COVID-19 pandemic. Revenues from subsidiary Kaixin Auto fell 83.7% to US$33.3 million. The operating loss improved to US$23.2 million

from US$26.4 million in H1 2019. Net loss attributed to the company was US$16.6 million, compared to a net income of US$67.7 million in the previous year. The company anticipates revenues between US$8 million and US$12 million in H2 2020 as Kaixin pauses dealership operations.

Renren Inc. (NYSE: RENN) announced the appointment of Lin Cong as an independent director, effective July 27, 2020, while Tianruo Pu resigned from the Board for personal reasons. Following this change, the Board comprises five members with three independent directors. Cong, with extensive experience in finance and used auto sectors, is expected to enhance the company's direction. His previous roles include vice president at 58.com and director at Kaixin Auto Holdings. The announcement emphasizes Cong's qualifications and the Board's commitment to good governance.