At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. 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 . 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. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. 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. . 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. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to: Local government's policies and regulatory oversight of crypto currency mining operation and our other operations; SOS's blockchian and supercomputing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments; Failure to manage the newly launched commodities trading business effectively; Loss of key customers in the commodity trading business; failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our demand for SOS's mining activities; any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation; security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; uncertainty in global supply chain and international shipping and. SOS Limited is based Qingdao, the People's Republic of China. 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 . Kevin Cooper of Carella Byrne declined to comment on the settlement. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. 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. That firms Sandra Grannum declined to comment on the settlement. SOS Limited : By: /s/ Yandai Wang : Name: Yandai Wang . The products are divided into three categories: basic cloud, cooperative cloud and information cloud. 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. 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 agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. (dd, ). Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. 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. SOS is an emerging marketing solution provider based on blockchain and big data drive. Since. Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . 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"). Use the links below to access additional information about this case on the US Court's PACER system. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. 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 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"). Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 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.. 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. 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. SOS is an emerging marketing and solution provider based on blockchain and big data. 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. 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. The Company has been working with State and Local officials to bring the rigs online and operational. 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. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. "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. 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. 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. Over 680 client hosted servers have been deployed in mobile smart containers to date. " 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. All Rights Reserved. We will launch more mining rigs as we sign additional contracts with . 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. 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. 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. 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. Last updated: 1 January 2023 at 11:00am EST. Currently SOS has 31 mobile smart containers in Wisconsin. It focuses on the research and development of big data, cloud computing, Internet of Things, block chain and artificial intelligence. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. View original content: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, SOS Limited (NYSE: SOS) (the "Company" or "SOS") today announced launch of, its Super-Computing and Hosting Center in, Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in. 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. Why? 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. 7 17. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. A more recent docket listing may be available from PACER . In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. He received an undergraduate degree from PLA Information Engineering University and an undergraduate degree from the University of San Francisco. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Copyright 2023 ALM Global, LLC. There are 1 older and no younger executives at SOS. SOS has obtained a national high-tech enterprise certification and the title of "Big Data Star Enterprise," awarded by the Gui'an New District Government. In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. The two companies will inject $9.1 million in the venture . Due to known and unknown risks, our actual results may differ materially from our expectations or projections. As a result, SOSs public statements were false and misleading, the suit said. According to the suit, SOS purports to be a technology company that provides marketing data, technology and solutions for emergency rescue services. 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. 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.". 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. Simply Wall Street Pty Ltd (ACN . We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. 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. The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. All rights reserved. Access will be granted to all successfully registered visitors. Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. All times are ET. 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. More such rigs will go online as the company secures more power supply from electricity providers . Source: FactSet. (pr, ), Judge Robert B. Kugler and Magistrate Judge Matthew J. Skahill added. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. QINGDAO, China, May 10, 2022 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced the launch of its Hosting Business at the Super-Computer & Hosting Center in Wisconsin. We will launch more mining rigs as we sign additional contracts. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. 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. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. . Cision Distribution 888-776-0942 Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. The report called for allocation of $1.7 million from the settlement fund for legal fees and costs. 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 2022 Cable News Network. 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. A Warner Bros. Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. Our Team Account subscription service is for legal teams of four or more attorneys. Discovery Company. Site Map, Advertise| The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. network. 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. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. 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. 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. 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. Mr Wang is 43, he's been the Exec. Access additional case information on PACER Defendant Dr. Eric H. Yan ("Yan") was hired by SOS on January 6, . 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 These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. 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. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. Customer Service| He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". 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