SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Cision Distribution 888-776-0942 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 agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. 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 Don't miss the crucial news and insights you need to make informed legal decisions. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk recruits team to develop OpenAI rival - The Information, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, French tycoon Niel hikes stake in Millicom to 19.6%, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, Executive Chairman & Chief Executive Officer. SOS has signed multiple agreements for hosting and managing more than 21,000 mining rigs. 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. 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. . For more information, visit www.sosyun.com. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. . 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. Disclaimer. Bloomberg Markets Americas. 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, . 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. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms financials, staffing, clients, news and events. 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. Through today, the company has deployed its own 700 sets of rigs to mining production pool. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. 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. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. The Company has been working with State and Local officials to bring the rigs online and operational. The report called for allocation of $1.7 million from the settlement fund for legal fees and costs. 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 . "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. 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. License our industry-leading legal content to extend your thought leadership and build your brand. 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.". These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. This will add more jobs and support the local economy.". Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! SOS is an emerging marketing and solution provider based on blockchain and big data. 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. 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. Join New Jersey Law Journal now! Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. 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 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. About Us| Attorneys from Faegre Drinker Biddle & Reath represented SOS and co-defendants Yandai Wang and Eric Yan. 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. The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. Mr. Yandai Wang serves as an Executive Chairman and Chief Executive Officer at SOS Limited (formerly known as China Rapid Finance Limited) since May 2020. . . This docket was last retrieved on January 19, 2023. 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. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. 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 industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Copyright FactSet Research Systems Inc. All rights reserved. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. All rights reserved. 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. Fundamental company data and analyst estimates provided by FactSet. 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. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. 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. 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 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. SOS executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Yandai Wang is the Exec. 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. Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. 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. Yandai Wang. 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. (pr, ), Judge Robert B. Kugler and Magistrate Judge Matthew J. Skahill added. International stock quotes are delayed as per exchange requirements. 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 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. sos SOSAI+++ Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. 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. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. Access additional case information on PACER 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. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. 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"). Change value during other periods is calculated as the difference between the last trade and the most recent settle. from 8 AM - 9 PM ET. All rights reserved. Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. 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. 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. 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. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. More such rigs will go online as the company secures more power supply from electricity providers . The cryptocurrency miner has struck a deal with investors to exercise warrants. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. There are 1 older and no younger executives at SOS. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. 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. The stock price of Sos Ltd (NYSE: SOS) is trading at over 2% pre-market today. 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. 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. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. We will launch more mining rigs as we sign additional contracts with third parties. " 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. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. 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.. . Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. 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 Trending on Pulse 2.0. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. 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