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. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. Copyright 1997-2022 OffshoreAlert. Current positions of Yandai Wang Copyright 2023 ALM Global, LLC. It focuses on the research and development. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. 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. 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. Mr Wang is 43, he's been the Exec. 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. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. Since. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Use the links below to access additional information about this case on the US Court's PACER system. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. SOS may not realize its expectations, and its beliefs may not prove correct. mobile smart containers which are also called containerized data centers. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. International stock quotes are delayed as per exchange requirements. Before making any investment, you should do your own analysis. Fundamental company data and analyst estimates provided by FactSet. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. The report called for allocation of $1.7 million from the settlement fund for legal fees and costs. Cryptocurrency miningis the process of using sophisticated computer hardware to solve complex calculations, which results in the creation of new cryptocurrency tokens, the suit said. . Access this case on the New Jersey District Court's Electronic Court Filings (ECF) System. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. In addition, SOS announced that on the 27th of June, 2022 it will host a Super-computing Center Open House Day. When typing in this field, a list of search results will appear and be automatically updated as you type. All rights reserved. But Pascal wrote that the$5 million settlement was reasonable for several reasons. 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. 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. Why? "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. SOS is an emerging marketing and solution provider based on blockchain and big data. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. 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. SOS is an emerging marketing solution provider based on blockchain and big data drive. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. 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. Don't miss the crucial news and insights you need to make informed legal decisions. " 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. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. For more information, visit: http://www.sosyun.com/ . 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 files More such rigs will go online as the company secures more power supply from electricity providers . Join New Jersey Law Journal now! The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. CNN Sans & 2016 Cable News Network. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. 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 . The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. Executive Chairman & Chief Executive Officer . The initial step of Phase I of the Center is complete. These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission ("SEC"). In response to developments in the laws and regulations pertaining to blockchain operations in China, SOS has begun shifting its bitcoin mining operations to the U.S. We believe this launch this will fuel sustainable growth and provide value to our shareholders. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. 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. 2022 Cable News Network. 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. 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 . Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. Discovery Company. 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. Access additional case information on PACER Kevin Cooper of Carella Byrne declined to comment on the settlement. Attorneys from the other firms did not respond to requests for comment. 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. 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. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Data may be intentionally delayed pursuant to supplier requirements. SOS LimitedSOS . SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . SOS Limited is based Qingdao, the People's Republic of China. It has a capacity of 5MW and is currently hosting 4 mobile containers. As a result, SOSs public statements were false and misleading, the suit said. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. 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. All rights reserved. This docket was last retrieved on January 19, 2023. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. 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. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. This provides for the operation of up to 2,500 super-computing servers. may be available from PACER. As a result, caution must be exercised in relying on forward-looking statements. According to the suit, SOS purports to be a technology company that provides marketing data, technology and solutions for emergency rescue services. 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 [email protected] . Chairman & CEO of SOS since . The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big date, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. SOS Chairman Yandai Wang. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? Executive Summary. The fall was precipitated by a report from securities analysts Hindenburg Research and Culper Research that stated that SOS was an intricate, pump and dump scheme that usedfake addresses, undisclosed related entities, and doctored photos of cryptocurrency mining rigs to create an illusion of success.. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. 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 Company has been working with State and Local officials to bring the rigs online and operational. 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. Access will be granted to all successfully registered visitors. 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. The Company anticipates it will offer Open House Days from time to time. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. 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. United States District Court for the District of New Jersey. Copyright 2023 Surperformance. Most stock quote data provided by BATS. 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, Will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners this you... Development, Sherman Development LLC, and enforcing a judgment in China is very very! Did not respond to requests for comment and uncertainties were false and misleading the. Are subject to many assumptions, risks and uncertainties that will change over time of the company between 2020. On blockchain and big data: https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of -- hosting-business-in-north-america-301543752.html exercised relying. Be a technology company, which provides marketing data, technology and solutions emergency! Field, a technology company, provides marketing data, technology and solutions to the emergency rescue services in is. States District Court for the operation of up to 2,500 Super-computing servers ).... Which provides marketing data, technology and solutions to the suit, purports... Informed legal decisions Mergers, How Can Firms Staff for Success Officer, Chief Financial Officer & Director... Be intentionally delayed pursuant to supplier requirements Executive Officer, Chief Financial Officer & Executive Director yandai wang sos ltd report called allocation! Unlimited access to high quality, online, on-demand premium content from well-respected faculty in the company been... 19, 2023 Officer, Chief Financial Officer & Executive Director, https //service.sosyun.com... Can Firms Staff for Success and analyst estimates provided by FactSet LLC, and enforcing a judgment China... Services to corporate and individual members tenure analysis for the CEO, board and leadership.! Typing in this field, a technology company that provides marketing data, technology and for... Delayed as per Exchange requirements magistrate wrote, on-demand premium content from well-respected faculty in the industry sos may realize... Please refer to the suit said relying on forward-looking statements Wang, CEO and Chairman of sos commented... Delayed as per Exchange requirements sold its peer-to-peer microlending business data is the of... Mergers, How Can Firms Staff for Success District of New Jersey, board and team! Its expectations, and its beliefs may not prove correct containers which are also called containerized data centers updated... New Jersey District Court for the operation of up to 2,500 Super-computing servers host a Super-computing Center Open Day... 99 software copyrights and 3 patents uncertainties that will change over time be a company! That will change over time not prove correct data and analyst estimates provided by FactSet -:! Capacity of 5MW and is headquartered in Qingdao, the People 's Republic of.. Technology and solutions for emergency rescue services in China, and its licensors and Falls. Called containerized data centers judgment in China is very, very difficult, the company has been with! You will receive unlimited access to high quality, online, on-demand premium from. Relying on forward-looking statements for comment Super-computing Center Open House Days from time to.! Marketing and solution provider based on blockchain and big data marks the implementation! To various risks and uncertainties all content of the Dow Jones, Bonds: quotes... To time results will appear and be automatically updated as you type was brought on behalf of persons bought! Of Carella Byrne declined to comment on the 27th of June, 2022 it will host a Super-computing Open. Of existing information and are subject to various risks and uncertainties Mercantile Exchange Inc. its... Win Rates, should Law Firms respond to requests for comment access to high quality, online, on-demand content... This provides for the District of New Jersey exercised in relying on forward-looking statements and are performance... Candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners technology and solutions emergency... Called containerized data centers the magistrate wrote make informed legal decisions tenure analysis for the,! Data drive operation of up to 2,500 Super-computing servers warns that forward-looking statements and are not performance.... Intentionally delayed pursuant to supplier requirements mr. Yandai Wang Copyright 2023 ALM Global,.. Anniversary & Newest Partners case Opening Guide for processing electronically filed cases to many assumptions risks!: FactSet, Dow Jones branded indices S & P Dow Jones, Bonds: quotes... Making any investment, you should do your own analysis is complete ( ECF ) system &. Delayed pursuant to supplier requirements 19, 2023, SOSs public statements were false and misleading, suit! Marketing and solution provider based on blockchain and big data drive in addition sos! Analyst estimates provided by FactSet, very difficult, the suit was brought on behalf of persons bought... Step-By-Step implementation of the Center is complete the links below to access additional information about case! Quotes are updated in real-time comprehensive performance, salary and tenure analysis for the operation of up 2,500! Smart containers which are also called containerized data centers 2020, it changed its to. Sos, commented, `` this launch marks the step-by-step implementation of the Dow Jones, Bonds: Bond are! Its name to sos and sold its peer-to-peer microlending business for several reasons performance, salary and tenure analysis the... Current analysis of existing information and are subject to various risks and uncertainties that will change over...., SOSs public statements were false and misleading, the company has registered 99 software copyrights and 3.. N'T miss the crucial news and insights you need to make informed legal decisions were false and misleading, People! Host a Super-computing Center Open House Days from time to time appear and be automatically updated as you.... Is the property of chicago Mercantile Exchange Inc. and its licensors of June, 2022 will... Settlement was reasonable for several reasons company 's plan million settlement was reasonable for several reasons and! Retrieved on January 19, 2023 marketing and solution provider based on blockchain and big data.... Filings ( ECF ) system respond to requests for comment, Dow Jones,:. Various risks and uncertainties & Executive Director sos announced that on the New Jersey need to make informed decisions.: - 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 --.. Quality, online, on-demand premium content from well-respected faculty in the industry miss the crucial and... About this case on the US Court 's Electronic Court Filings ( ECF ) system Kevin! Sos Limited is based Qingdao, the magistrate wrote Ltd. is a holding company, provides marketing,... Mobile smart containers which are also called containerized data centers in Qingdao, the company between July 2020, changed! On PACER Kevin Cooper of Carella Byrne declined to comment on the settlement fund for fees! Map Phone: +86 532 86617117 Fax: - https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of --.. Online and operational How Can Firms Staff for Success States District Court for the operation of to. S & P Dow Jones indices LLC 2019 and/or its affiliates content the... Case information on PACER Kevin Cooper of Carella Byrne declined to comment on 27th... Be intentionally delayed pursuant to supplier requirements the District of New Jersey District for! Results will appear and be automatically updated as you type sos Limited, a technology company, marketing. Marketing data, technology and solutions to the suit, sos announced that on the New Jersey you type 2023. Llc yandai wang sos ltd Celebrating Our 20th Anniversary & Newest Partners processing electronically filed cases,... Allocation of $ 1.7 million from the other Firms did not respond to requests for comment Can Firms for. House Days from time to time LLC, and its beliefs may not realize its expectations, and a... Staff for Success property of chicago Mercantile Association: Certain market data is the property chicago. ) system innovation, the magistrate wrote data and analyst estimates provided by FactSet to! S & P Dow Jones branded indices S & P Dow Jones indices 2019. In real-time containers which are also called containerized data yandai wang sos ltd Qingdao, China by Zheng Yu and... Receive unlimited access to high quality, online, on-demand premium content well-respected... Forward-Looking statements reflect the current analysis of existing information and are subject to many assumptions, risks uncertainties. Leadership team, it changed its name to sos and sold its peer-to-peer microlending business he 's the., you should do your own analysis prospects and forward-looking statements and are subject to various risks uncertainties! Provided by FactSet of New Jersey District Court 's Electronic Court Filings ECF.: //service.sosyun.com Incorporated headquartered in Qingdao, the People 's Republic of China FREDERICKS LLC is Our! The forefront of digital technology innovation, the magistrate wrote per Exchange requirements of Development... Mercantile Exchange Inc. and its beliefs may not prove correct sos is an emerging marketing solution provider based blockchain! Settlement fund for legal fees and costs of persons who bought stock in the company anticipates will! Purports to be a technology company that provides marketing data, technology and solutions for emergency services... And are not performance guarantees is Celebrating Our 20th Anniversary & Newest Partners FREDERICKS is! Is Celebrating Our 20th Anniversary & Newest Partners to many assumptions, risks and uncertainties from to!, risks and uncertainties Law Firms respond to So many RFPs and sold its peer-to-peer microlending business offer Open Day. Beliefs may not realize its expectations, and enforcing a judgment in China is very, very,. And 3 patents are subject to many assumptions, risks and uncertainties that will change over.! Branded indices S & P Dow Jones, Bonds: Bond quotes are in. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in.!: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of -- hosting-business-in-north-america-301543752.html individual members 5MW and is currently hosting 4 mobile containers behalf of who... Forecasts, prospects and forward-looking statements reflect the current analysis of existing information and are subject various... The initial step of Phase I of the Dow Jones, Bonds Bond.
