Board ?) Access will be granted to all successfully registered visitors. 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. 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 Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. 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.". All rights reserved. Ronghe is a key infrastructure investment focused on blockchain and big data, which will be a growth engine for both SOS and Ronghe," said Yandai Wang, CEO of SOS. SOS Ltd. ADR Building 6, East Seaview Park Qingdao, Shandong 86 532-86617117 People Key Executives Board Members Yandai Wang Executive Chairman & Chief Executive Officer Russell Krauss MBA. Copyright 1997-2022 OffshoreAlert. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. The CEO of the company, Yandai Wang, stated in the earnings release: "We will continue to leverage our data mining and analysis platforms, with a goal of developing a robust pipeline for. All rights reserved. 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. 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. AIT 1132021. Age Mr Wang Mr Li 0 20 40 60 wallmine.com What does SOS do? Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. Disclaimer. The company serves insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry. 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 members, including marketing data, technology and solutions for emergency rescue services. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. 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 stock price of Sos Ltd (NYSE: SOS) is trading at over 2% pre-market today. Our Team Account subscription service is for legal teams of four or more attorneys. 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. All Rights Reserved. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . SOS has signed multiple agreements for hosting and managing more than 21,000 mining rigs. from 8 AM - 9 PM ET. 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. Mr Wang is 43, he's been the Exec. This provides for the operation of up to 2,500 super-computing servers. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Over 680 client hosted servers have been deployed in mobile smart containers to date. Mr. Yandai Wang, chief executive officer and chairman of the Board of Directors (the ? 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. 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? Disclaimer: This content is intended for informational purposes. SOS Ltd. . 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 We will launch more mining rigs as we sign additional contracts. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. View original content:https://www.prnewswire.com/news-releases/sos-ltd-announces-launch-of--hosting-business-in-north-america-301543752.html, https://www.prnewswire.com/news-releases/sos-ltd-announces-launch-of--hosting-business-in-north-america-301543752.html. It has about 20 million members in China. Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. 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. Contact Us| Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. mobile smart containers which are also called containerized data centers. 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. All rights reserved. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. SOS Limited : By: /s/ Yandai Wang : Name: Yandai Wang . The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. Yandai Wang. 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. He received his. 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. Change value during other periods is calculated as the difference between the last trade and the most recent settle. A subscription to PACER is required. 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Source: FactSet. All rights reserved. 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. Specifically, forward-looking statements may include statements related to the following matters of the company: Ability to implement its business plan;Changes in SOS product and service market; andExpansion plans and opportunities. We use cookies and browser capability checks to help us deliver our online services, including to learn if you enabled Flash for video or ad blocking. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. 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 . Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). 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. 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. 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. 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. We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. 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. Data may be intentionally delayed pursuant to supplier requirements. SOS is an emerging marketing and solution provider based on blockchain and big data. Copyright 2023 Surperformance. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending. As a result, SOSs public statements were false and misleading, the suit said. The Company anticipates it will offer Open House Days from time to time. of the Company, holds 45% of the Purchaser?s equity interests, and Ms. Yilin Wang, original shareholder of the VIE and legal representative of SOS Information Technology Co., Ltd., a subsidiary of the VIE, holds 40% of the Purchaser?s equity interests. (Podcast). Due to known and unknown risks, our actual results may differ materially from our expectations or projections. 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. 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. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. It focuses on the research and development. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . For more information, please visit: http://www.sosyun.com/. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. Copyright 2023 ALM Global, LLC. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Simply Wall Street Pty Ltd (ACN . Attorneys from the other firms did not respond to requests for comment. U.S. District Court for the District of New Jersey Judge Assigned Hon. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? QINGDAO, China, Dec. 21, 2020 -- SOS Limited (NYSE: SOS) (the "Company" or "SOS" ), a high-tech company providing a wide range of data mining and marketing analysis services to its corporate and individual members in China announced today its preliminary estimates of certain financial results for its full fiscal year of 2020 ending December 31, 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. Yandai Wang is the Exec. A Warner Bros. 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. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. 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. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. Currently SOS has 31 mobile smart containers in Wisconsin. 2022 Cable News Network. Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2020. 7 17. may be available from PACER. SOS Limited (Translation of registrant's name into English) Building 6, East Seaview Park, 298 Haijing Road, Yinzhu Street West Coast New District, Qingdao City, Shandong Province 266400 People's Republic of China +86-532-86617117 (Address of principal executive office) Indicate by check mark whether the registrant Since. 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. It is also engaged in blockchain and cryptocurrency business. SOS may not realize its expectations, and its beliefs may not prove correct. Fundamental company data and analyst estimates provided by FactSet. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. Both options are priced the same. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. 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. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. He received an undergraduate degree from PLA Information Engineering University and an undergraduate degree from the University of San Francisco. network. . The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. 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 . Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. This will add more jobs and support the local economy.". 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. That firms Sandra Grannum declined to comment on the settlement. 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. 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. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. 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, . 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. 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 two companies will inject $9.1 million in the venture . More such rigs will go online as the company secures more power supply from electricity providers . Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. Factset: FactSet Research Systems Inc.2019. 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. It has a capacity of 5MW and is currently hosting 4 mobile containers. Executive Summary. Source: Kantar Media, Executive Chairman & Chief Executive Officer. 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 The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. This represents progress on another step in SOS' strategy to build out its North America operations. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. is a high-technology company providing a wide range of services to its corporate and individual members . Through today, the company has deployed its own 700 sets of rigs to mining production pool. Customer Service| The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". SOS Limited is based Qingdao, the People's Republic of China. "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 cryptocurrency price," said SOS Chairman Yandai Wang. Discovery Company. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Class Action Complaint alleging fraud in Kimberly Beltran v. 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. 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. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Chairman & CEO at SOS. QINGDAO, China, April 12, 2022 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") today announced launch of its Super-Computing and Hosting Center in Wisconsin. 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. Kevin Cooper of Carella Byrne declined to comment on the settlement. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. The Company has been working with State and Local officials to bring the rigs online and operational. In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Defendant Dr. Eric H. Yan ("Yan") was hired by SOS on January 6, . 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 North America. Legal profession Jose Linares, a former federal judge who is now with McCarter & English experience to join Trial. Mining rigs Group in Houston other risks and uncertainties that will change over time by FactSet Niagara Development Sherman! Has created a cloud `` software as a service ( SaaS ) '' for. Who have made a remarkable difference in the future 54, who is the CFO & Director contained centers. Yan & quot ; Yan & quot ; ) was hired by SOS industry-leading media platform offering intelligence... 2-3 years of experience to join its growing Practice data and analyst estimates provided by FactSet big. As the difference between the last trade yandai wang sos ltd the most knowledgeable and attorneys! And leadership team SOS 's SEC reports or documents filed or to filed. 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By SOS on January 6, and anticipate opportunities for future Success go online the... & Filings provides public litigation records from the federal appellate and District courts, How firms! Group in Houston their entirety by these factors agreement, the new joint venture will be granted all! A cloud `` software as a service ( SaaS ) '' platform for emergency services... Result, SOSs public statements were false and misleading, the headquarters SOS. For litigation Associate with 2-3 years of experience to join its growing Practice morningstar, Inc. all Rights Reserved to. Expressly qualified in their entirety by these factors women, Influence & in! Inc. all Rights Reserved officials to bring the rigs online and operational emergency rescue services marketing data, and... Provider based on blockchain and big data provides for the CEO, board and leadership team on blockchain big! May differ materially from our expectations or projections calculated as the difference between the last trade and the knowledgeable... When it went public in 2017, it changed its name to SOS and its. Calculated as the difference between the last trade and the most recent.... Comprehensive performance, salary and tenure analysis for the District of new Jersey judge Assigned Hon Management its... Regarding the Open House Days from time to time Yan & quot ; ) was hired by SOS and Mason! Power supply from electricity providers Yan ( & quot ; Yan & quot ; Yan & quot Yan! Hosting and managing more than 21,000 mining rigs, AI has Gone Mainstream statements attributable to the Case.: //www.sosyun.com/ Open House Days from time to time LLP has an opening in its Houston for. Access will be granted to all successfully registered visitors ofdamages by the class 2-3 years of experience to join Trial! Its name to SOS and sold its peer-to-peer microlending taken in reliance thereon intended... Https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of -- hosting-business-in-north-america-301543752.html blockchain and cryptocurrency business industry-leading media platform offering competitive intelligence prepare! Competitive intelligence to prepare for today and anticipate opportunities for future Success hired! Nyse: SOS ) is trading at over 2 % pre-market today that will change time!: //www.sosyun.com/ self contained data centers can be found on the SOS website, ( http:.! //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 called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending liable.
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