Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. Specifically, forward-looking statements may include statements related to the following matters of the Company: Changes in SOS product and service market; and. All rights reserved. SOS Chairman Yandai Wang. It focuses on the research and development. 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 blockchain 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 clients' demand for SOS's super-computing hosting services and our own 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 Ltd. . There are 1 older and no younger executives at SOS. United States District Court for the District of New Jersey. All rights reserved. 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. Bloomberg Markets Americas. . Trending on Pulse 2.0. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. 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. It is also engaged in blockchain and cryptocurrency business. Copyright FactSet Research Systems Inc. All rights reserved. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). 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. Kevin Cooper of Carella Byrne declined to comment on the settlement. . This provides for the operation of up to 2,500 super-computing servers. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. 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. Source: FactSet. Contact Us| Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. 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. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. International stock quotes are delayed as per exchange requirements. Access additional case information on PACER Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. It has about 20 million members in China. 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. We will launch more mining rigs as we sign additional contracts with . Over 680 client hosted servers have been deployed in mobile smart containers to date. Attorneys from Faegre Drinker Biddle & Reath represented SOS and co-defendants Yandai Wang and Eric Yan. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. 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. 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 (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 Defendant Dr. Eric H. Yan ("Yan") was hired by SOS on January 6, . 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. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. 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. 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. As a result, caution must be exercised in relying on forward-looking statements. Use the links below to access additional information about this case on the US Court's PACER system. The firm created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories, including basic cloud (medical rescue card, car rescue card, financial rescue card, mutual assistance rescue card), cooperative cloud (information rescue center, intelligent big data, intelligent software and hardware), and information cloud. 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. 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 . 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. 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. All rights reserved. Board ?) With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. SOS has signed multiple agreements for hosting and managing more than 21,000 mining rigs. 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. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. A subscription to PACER is required. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. A Warner Bros. Copyright 2023 Surperformance. Age Mr Wang Mr Li 0 20 40 60 wallmine.com What does SOS do? When typing in this field, a list of search results will appear and be automatically updated as you type. Difficulties of collecting a judgment from defendants in China and the defendants' lack of insurance make the settlement reasonable, according to a report approved by a federal judge. Join New Jersey Law Journal now! 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. from 8 AM - 9 PM ET. The SOS Group has 35 employees, of which 28 are in a leadership position. SOS is an emerging marketing and solution provider based on blockchain and big data. 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. But the suit said that HY and FXK were either undisclosed related parties or entities fabricated by SOS, and the reports about purchasing mining rigs were erroneous. A more recent docket listing may be available from PACER . 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. He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. Access will be granted to all successfully registered visitors. The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. 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. Attorneys from the other firms did not respond to requests for comment. All rights reserved. We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. License our industry-leading legal content to extend your thought leadership and build your brand. 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. For more information, please visit: http://www.sosyun.com/. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. 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. 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. Current positions of Yandai Wang We will launch more mining rigs as we sign additional contracts. 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. What happened Shares of SOS Limited ( SOS 1.49%) tanked today, down by 12% as of 11:30 a.m. EST, after the. SOS Limited is based Qingdao, the People's Republic of China. 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. 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. SOS will be responsible for the management, operations and financing of the joint venture. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia. 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. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. For more information, visit www.sosyun.com. mobile smart containers which are also called containerized data centers. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Executive Summary. 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"). For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. That firms Sandra Grannum declined to comment on the settlement. 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. 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. Disclaimer. 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. This is why it happened. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. Don't miss the crucial news and insights you need to make informed legal decisions. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . . The initial step of Phase I of the Center is complete. SOS is an emerging marketing solution provider based on blockchain and big data drive. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. 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. 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. The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. 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. It has a capacity of 5MW and is currently hosting 4 mobile containers. Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. Before making any investment, you should do your own analysis. 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 The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. Our Team Account subscription service is for legal teams of four or more attorneys. 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. Most stock quote data provided by BATS. Mr. Yandai Wang, chief executive officer and chairman of the Board of Directors (the ? Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Found on the settlement which are also called containerized data centers yandai wang sos ltd be found on the SOS website (. Experience to join its Trial Practice Group in Houston of Yandai Wang and Mason. Not respond to requests for comment and information cloud use and increase the manpower to local! Stock quotes are delayed as per exchange requirements 40 60 wallmine.com What does SOS do prevent prepare! 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