Renren announces initiation of legal proceedings by kaixin

Renren announces initiation of legal proceedings by kaixin.renren inc - kaixin initiated legal proceedings against non-controlling shareholders of 3 of its dealerships due to disputes over operating issues.renren inc - covid-19 pandemic has a material adverse impact on kaixin's used-car dealership business.renren inc - kaixin has decided to put a halt to its used-car dealership business operations.renren inc - kaixin expects that its revenues in q2 in 2020 will be significantly lower than revenues in prior periods.renren inc - kaixin expects it may not have meaningful revenues starting from q3 of 2020.
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