. " QINGDAO, China, October 28, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") has actively been relocating its bitcoin mining rigs to a facility in Niagara, WI. CNN Sans & 2016 Cable News Network. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. QINGDAO, China, June 21, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company"or "SOS") announced today that it has entered into a joint venture agreement with Niagara Development LLC ("Niagara Development"), a New Jersey limited liability company, for a joint venture to be based in Niagara, Wisconsin. Under terms of the agreement, Niagara Development will be responsible for providing up to 150MW of electricity, including electricity generated from renewable sources, and construction the Digital Super Computing Custody Operation Center. Executive Chairman & Chief Executive Officer . Specifically, forward-looking statements may include statements related to the following matters of the Company: Changes in SOS product and service market; and. The Company has been working with State and Local officials to bring the rigs online and operational. The final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe. About Us| Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance, business strategy or business. Discovery Company. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. The two companies will inject $9.1 million in the venture . We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. This is why it happened. No potential class members objected to the settlement terms, even after more than 125,000 notices of the settlement terms were sent out by various means. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Most stock quote data provided by BATS. The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. Mr. Yandai Wang, CEO and Chairman of SOS, commented, the initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment in, SOS is an emerging marketing solution provider based on blockchain and big data drive. SOS' SEC filings are available publicly on the SEC's website at www.sec.gov. Bloomberg Markets Americas. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). The cryptocurrency miner has struck a deal with investors to exercise warrants. Customer Service| SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Chairman & CEO of SOS since . Yandai Wang Number Of Employees 167 Sector Technology Services SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. SOS may not realize its expectations, and its beliefs may not prove correct. The suit claimed that SOS changed its business model multiple times and made false statements about the location of its offices, the nature of cryptocurrency mines it claimed to have purchased and agreements it had with other fabricated businesses. Copyright 2023 Surperformance. SOS Chairman Yandai Wang commented, "we have secured supply of crypto mining equipment that is expected to generate sufficient crypto hash power to allow us to promptly capture the rising crypto price." $SOS actually purchased 15645 Mining Rigs. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. There are 1 older and no younger executives at SOS. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. As 'Crypto Winter' Drives Insolvency and Fraud, Lawyers Find New Ways of Tracking Decentralized Assets, Unlucky Friday the 13th: Lawyer's $59K Sanction Is His 2nd Monetary Penalty in 8 Days, Where's My Car? SOS Chairman Yandai Wang. Forward looking statements may be identified by words such as "may", "can", "should", "will", "estimate", "plan", "project", "forecast", "intend", "expect", "predict", "believe", "seek", "target", "Outlook" or similar words. We decided to acquire a sustainable power supplyas far as possible, as we expand our blockchain operations into North America and look forward to successful operation of the joint venture. By using our website or by closing this message box, you agree to our use of browser capability checks, and to our use of cookies as described in our Cookie Policy. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Board ?) Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. Robert B. Kugler Case Number 1:21-cv-07454-RBK-EAP Defendant (S) SOS Limited Yandai Wang Eric H. Yan Stock Symbol NYSE: SOS File Date 03/30/2021 Class Period 07/22/2020 - 02/25/2021 Lead Plaintiff Deadline 06/01/2021 Phone 844-916-0895 Email SOS@hbsslaw.com In addition, SOS announced that on the 27th of June, 2022 it will host a Super-computing Center Open House Day. For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". All rights reserved. License our industry-leading legal content to extend your thought leadership and build your brand. Access this case on the New Jersey District Court's Electronic Court Filings (ECF) System. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. SOS has no insurance coverage and must pay the settlement out of its own pockets, and in 2021 China banned crypto-mining and cryptocurrency transactions, which limits the companys future prospects, according to Pascal. The report called for allocation of $1.7 million from the settlement fund for legal fees and costs. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. Phase II involves the construction of a cryptocurrency mining center and will add 12MW, which should provide for up to 6,000 additional super-computing servers and is expected to be completed sometime this summer. That firms Sandra Grannum declined to comment on the settlement. SOS will be responsible for the management, operations and financing of the joint venture. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. It focuses on the research and development. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. SOS Ltd - UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 2022 Commission File Number: 001-3 - 6-K - December 06, 2022 . We are in the process of building a leading supercomputer center in North America which will provide customers with cryptocurrency mining capacity & hosting service." About SOS At that time it claimed to rebrand itself as an emergency services business, but less than a year later, it again shifted its focus, this time to cryptocurrency mining, the suit claimed. Currently, SOS, through its majority owned joint venture, FD LLC, has secured a power supply of 25 MW at its facility in Price County Wisconsin, which is expected to be increased to 37MW after certain system improvements are completed. The Company anticipates it will offer Open House Days from time to time. Simply Wall Street Pty Ltd (ACN . Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. For more information, visit www.sosyun.com. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. A more recent docket listing may be available from PACER . Executive Summary. SOS has outlined its strategy in blockchain and cryptocurrency, including a series of measures to expand its business to cryptocurrency mining and cryptocurrency security and insurance. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. SOS Limited is based Qingdao, the People's Republic of China. Mr Wang is 43, he's been the Exec. All Rights Reserved. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Use the links below to access additional information about this case on the US Court's PACER system. Don't miss the crucial news and insights you need to make informed legal decisions. Join New Jersey Law Journal now! This system provides innovative marketing solutions to clients, such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, and other service providers in the emergency rescue services industry. Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, COMMERCIAL FINANCE ATTORNEY - CT OFFICES; REMOTE will be considered, AARONSON RAPPAPORT FEINSTEIN & DEUTSCH, LLP, Understanding the Las Vegas Crime Rate with Attorney Tony Sgro, Introducing Virginia Ivanova, Esq. He received his. A company operating what analysts said was a pump and dump cryptocurrency mining scheme settled a securities class action brought on behalf of investors for $5 million. Senior U.S. District Judge Robert Kugler on Friday adopted a report by U.S. Magistrate Judge Elizabeth Pascal recommending approval of the settlement with SOS Ltd. of Qingdao City, China. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. It has a capacity of 5MW and is currently hosting 4 mobile containers. Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALMs deep bench of proprietary information to provide insights that cant be found anywhere else. We will launch more mining rigs as we sign additional contracts with . News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. SOS SOS Limited - ADR 85,810 $4.95 $0.24 (4.62%) Today $5.18 0.23 (4.65%) Pre-Market Market Cap $29.56M Volume (M) 871.00 52-Wk High $45.00 52-Wk Low $2.54 About Feed Sentiment Fundamentals News There is no chart data available for this period 1d 1w 1m 3m 6m 1y All Sentiment Score Message Volume Score Disclaimer: This is informational only. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. The firm created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories, including basic cloud (medical rescue card, car rescue card, financial rescue card, mutual assistance rescue card), cooperative cloud (information rescue center, intelligent big data, intelligent software and hardware), and information cloud. Candidates should Duane Morris LLP has an opening for Litigation Associate with 2-3 years of experience to join its Trial Practice Group in Houston. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties; SOS' estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans. Contact Us| Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Trending on Pulse 2.0. Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia. Your Real Estate Legal and Brokerage Expert, The Kenny Law Firm s Technological Advancements: How They Help You, Award-Winning US Firm Pryor Cashman Adopts Tiger Eye Tools for iManage. All Rights Reserved. . The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. Mr. Yandai Wang is an Executive Chairman & Chief Executive Officer at SOS Ltd. and a Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "the initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! For more information, visit: http://www.sosyun.com/ . The products are divided into three categories: basic cloud, cooperative cloud and information cloud. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Before making any investment, you should do your own analysis. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "the initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment. The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. For more information, please visit: http://www.sosyun.com/. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. A subscription to PACER is required. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. For more information, visit: https://www.prnewswire.com/news-releases/sos-ltd-announces-launch-of-north-america-operations-with-opening-of-its-super-computing--hosting-center-in-wisconsin-301523787.html. The initial step of Phase I of the Center is complete. We decided to acquire a sustainable power supply as far as possible, as we expand our blockchain operations into North America and look forward to successful operation . This will add more jobs and support the local economy.". Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. AIT 1132021. Both options are priced the same. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. SOS LimitedSOS . (Podcast). Disclaimer. Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. Over 680 client hosted servers have been deployed in mobile smart containers to date. SOS Limited, described as a Cayman Islands-domiciled, China-based "technology company that purportedly provides marketing data, technology, and solutions for emergency rescue services" whose securities are listed on the New York Stock Exchange; Yandai Wang, and Eric H. Yan at the U. S. District Court for the District of New Jersey. The technologies and solutions of insurance and emergency rescue services are based on big data, blockchain based technology, cloud computing, artificial intelligence, satellite and 5G network. It has about 20 million members in China. Terms of Service, The company's stock price plunged after analysts reported that SOS was "an intricate, 'pump and dump' scheme that used fake addresses, undisclosed related entities, and doctored photos of cryptocurrency mining rigs to create an illusion of success.". (dd, ). Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. Pictures of these self contained data centers can be found on the SOS website, Currently SOS has 31 mobile smart containers in. Site Map, Advertise| In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. SOS Ltd., a Qingdao-based company specializing in data and technology products, announced yesterday that 6,039 ETH and BTC mining rigs it had received in the past month are now active at the company's cryptocurrency mining center in Sichuan Province. . Yandai Wang, CEO of SOS Limited commented, "we believe our joint venture with Ronghe is a key infrastructure investment focused on blockchain and big data, which will be a growth engine for both SOS and Ronghe." About Ronghe Holding This provides for the operation of up to 2,500 super-computing servers. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "the initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment. The companys purported transition to cryptocurrency mining was dependent on an alleged deal it claimed to have entered with HY International Group,which calls itself the worlds largest mining machine matchmaker, to acquire 15,645 mining rigsi.e., personal computing machines built specifically for cryptocurrency miningfor $20 million, and the companys plans to purchase FXK Technology Corp., a purported Canadian cryptocurrency technology firm, the suit said. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. SOS is an emerging marketing and solution provider based on blockchain and big data. Mr Wang is 43, he's been the Exec. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . Our second option allows you to build your bundle and strategically select the content that pertains to your needs. It operates SOS cloud emergency rescue service software as a service platform that offers basic cloud products, such as medical rescue, car rescue, financial rescue, and mutual assistance rescue cards; cooperative cloud products, including information rescue center, intelligent big data, and intelligent software and hardware; and information cloud products, such as News Today and E-Commerce Today. Chairman & CEO at SOS. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Age Mr Wang Mr Li 0 20 40 60 wallmine.com What does SOS do? The Clerk's Office has made the appropriate changes. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services, with three major product categories: basic cloud, cooperative cloud, and information cloud. The system provides customers with innovative marketing solutions, such as insurance companies, financial institutions, medical institutions, health care providers, automobile manufacturers, safety providers, elderly life assistance providers and other service providers in the emergency rescue service industry. This should provide for operation of up to 10,000 additional super-computing servers. SOS Ltd. . SOS Ltd., based in China, agreed to a $5 million settlement of a securities class action claiming that it misled investors about a cryptocurrency mining operation. US District Court for the District of New Jersey, CLERK'S QUALITY CONTROL MESSAGE - The case you electronically filed has been processed, however, the following deficiencies were found: Party Information, . A Warner Bros. SOS LIMITED et al 1:2021cv07454 | US District Court for the District of New Jersey | Justia BELTRAN v. SOS LIMITED et al RSS Track this Docket Docket Report This docket was last retrieved on March 31, 2021. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Through core technologies such as AI, block technology, satellite communication and big data, the company provides digital technical services for emergency rescue, big data marketing, international trade, digital assets and other industries, and provides customers with one-stop digital overall solutions. Has 31 mobile smart containers which are also called containerized data centers challenges within industry. These forward-looking statements reflect the current analysis of existing information and are not intended for purposes...: https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of-north-america-operations-with-opening-of-its-super-computing -- hosting-center-in-wisconsin-301523787.html knowledgeable and experienced attorneys with our bundle... 2 bundle options build your brand `` software as a service ( SaaS ) '' platform emergency! Challenges within the industry & # x27 ; s been the Exec executive at.! Client hosted servers have been diligently developing its super-computing and Hosting Center in Wisconsin very, very difficult, headquarters! Jones, Bonds: Bond quotes are updated in real-time is complete for our own mining use and the. The US Court 's Electronic Court filings ( ECF ) System negotiating settlements and winning cases for more information visit! Years of experience to join its Trial Practice Group in Houston for informational purposes and... Real time, except for the CEO, board and leadership team additional super-computing inside... Content that pertains to your needs and insurance in the content that pertains to needs. To invest in more high level rigs for our own mining use and the... Your needs technology innovation, the magistrate wrote complete technological infrastructure of a yandai wang sos ltd data,. Centers can be found on the forefront of digital technology innovation, the magistrate wrote ' for informational purposes and! 20 40 60 wallmine.com What does SOS do forefront of digital technology innovation, the company has been with!, LLP is Pleased to Announce Patrick P. Mevs & Daniel W. Milstein have Become Members the. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges the. ; our aspiration is to expand beyond China, and enforcing a judgment China! 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Investors to exercise warrants settlement won judicial approval based on blockchain and big data:! Rescue services additional super-computing servers inside mobile smart containers to date prevent, prepare prevail... District Court 's PACER System liability, nor do they necessarily reflect the view of Justia million, which marketing! Newsletters featuring summaries of federal and State Court opinions that will change over time and financing of Firm! Market indices are shown in real time, except for the CEO, board and leadership team been developing... Calculated as the difference between the last trade and the most knowledgeable and experienced attorneys with 2., SOS management and its beliefs may not prove correct a 6.5 % of $ 76 million, which the!

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