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Chris DeMuth discusses his best idea for 2022, RENN. RENN was on a previous podcast pitched by Ian Bezek as a legal play; since then, RENN settled with minority shareholders for a record payout. However, in December, RENN's shares sold off massively as a judge rejected their proposed settlement with minority shareholders and ruled the payout should instead go to former shareholders; Chris explains why he thinks that ruling is wrong and likely to be overturned. Chapters 0:00 Intro 1:50 RENN background 4:20 What's happened since the last RENN podcast 8:20 The settlement announcement in October 12:35 What happens in December / why the stock craters 19:45 Why are current shareholders appealing the judge's ruling? 24:00 What does a derivative suit mean and why is that important? 30:00 Were there any precedents for former shareholders getting the settlement payout? 35:30 Discussing the unique minority shareholder only payout 38:50 Could the settlement be recut to pay directly to the company? 44:50 What does the timeline going forward look like? 46:30 What happens to the "excess legal fees"? 54:30 Why a quick decision on the appeal could be good 57:35 What odds does Chris give for the appeal winning? 1:00:10 Bear push back: The Sprint / TMUS precedent 1:05:40 Closing thoughts Learn more about your ad choices. Visit megaphone.fm/adchoices