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. Factset: FactSet Research Systems Inc.2019. Over 680 client hosted servers have been deployed in mobile smart containers to date. Copyright 2023 Surperformance. 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. 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. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? 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. This provides for the operation of up to 2,500 super-computing servers. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. 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"). When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending. 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? 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 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. 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 candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. 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. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. 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. Learn about SOS Limited (SOS) stock's management team. 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. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Most stock quote data provided by BATS. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. Board ?) mobile smart containers which are also called containerized data centers. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. This will add more jobs and support the local economy.". 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. All rights reserved. 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. 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. 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. Don't miss the crucial news and insights you need to make informed legal decisions. Change value during other periods is calculated as the difference between the last trade and the most recent settle. SOS Limited : By: /s/ Yandai Wang : Name: Yandai Wang . 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. 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. It is also engaged in blockchain and cryptocurrency business. 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. Executive Summary. All rights reserved. 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 final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. 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, . 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. Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. AIT 1132021. For more information, please visit: http://www.sosyun.com/. 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. Copyright 2023 ALM Global, LLC. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. He received his. Simply Wall Street Pty Ltd (ACN . SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. 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 Chairman & CEO of SOS since . 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. The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. Attorneys from the other firms did not respond to requests for comment. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. "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. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. Mr Wang is 43, he's been the Exec. 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 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. 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 Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Prognosis explores health, wellness, and the ways in which modern science is allowing us to live better - in both the long term, and day-to-day, Train Crash in Greece Kills Dozens, Prompts Minister to Resign, German Inflation Unexpectedly Quickens in Fresh Blow for ECB, China Tells IMF Willing to Take Constructive Part in Debt Talks, Feds Soft Landing Hinges on a Wage Inflation Head Scratcher, Car Debt Is Piling Up as More Americans Owe Thousands More Than Vehicles Are Worth, Powerade Signs Ja Morant to Multiyear Deal to Be Its New Face, TikTok Will Limits Teens to 60 Minutes a Day to Prevent Binges, Self-Driving Firm iMotion Weighs $300 Million Hong Kong IPO, Sources Say, Tennis Great Venus Williams Joins Private Equity Firm Topspin, Nigeria Third-Place Opposition Party to Sue Over Tinubu Victory, Nigeria Cash Crisis Ends 31-Months of Growth in Business Activity, Vanguard Shuts UK Financial Planning Arm Two Years After Launch, Bridgewater Exits Ray Dalio Era With Hedge Fund Overhaul, Bets on AI and Job Cuts, Netflix BringsStranger Thingsto the Stage in Londons West End, Bank CDs Are an Insult to Americas Savers, Poor Voters Are Losing Out in the Culture Wars, How Evangelical Voters Swung From Carter to Trump, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, Russian Airlines Are Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, Women in the EU Arent Set for Equal Pay Until 2086, Santander Failed to Make Progress With Gender Pay Gap in 2022, Exxon Broke Rules With Late Reporting of Permian Methane Leak, Theres a Gap Between EV Range Estimates and Real-World Results, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Richest Atlanta District Inches Closer to Seceding From City, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Bloomberg Markets Americas. 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. Mr Wang is 43, he's been the Exec. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. We will launch more mining rigs as we sign additional contracts with . 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, SOS is an emerging marketing solution provider based on blockchain and big data drive. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. Discovery Company. Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Yandai Wang is the Exec. International stock quotes are delayed as per exchange requirements. (dd, ). Unlimited access to New Jersey Law Journal, Access to additional free ALM publications, 1 free article* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. 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. 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. Fundamental company data and analyst estimates provided by FactSet. . SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. Site Map, Advertise| The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. It is also engaged in blockchain and cryptocurrency business. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. 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. (Podcast). SOS has signed multiple agreements for hosting and managing more than 21,000 mining rigs. Data may be intentionally delayed pursuant to supplier requirements. 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 . All rights reserved. SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. 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. 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. Disclaimer: This content is intended for informational purposes. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. 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. 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. 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. Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). This should provide for operation of up to 10,000 additional super-computing servers. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. 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 initial step of Phase I of the Center is complete. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. 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. The Clerk's Office has made the appropriate changes. No potential class members objected to the settlement terms, even after more than 125,000 notices of the settlement terms were sent out by various means. A subscription to PACER is required. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. 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. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? 2022 Cable News Network. There are 1 older and no younger executives at SOS. The two companies will inject $9.1 million in the venture . 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. 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. 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. 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. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties; SOS' estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans. from 8 AM - 9 PM ET. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. U.S. District Court for the District of New Jersey Judge Assigned Hon. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Copyright FactSet Research Systems Inc. All rights reserved. . Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. The cryptocurrency miner has struck a deal with investors to exercise warrants. 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. 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. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. 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. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. 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 . " 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. 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. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. United States District Court for the District of New Jersey. SOS' SEC filings are available publicly on the SEC's website at www.sec.gov. 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, Currently SOS has 31 mobile smart containers in. . 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 additional case information on PACER These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Access will be granted to all successfully registered visitors. For more information, visit: http://www.sosyun.com/ . Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. Copyright 1997-2022 OffshoreAlert. Chairman & CEO at SOS. This represents progress on another step in SOS' strategy to build out its North America operations. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream.
University Of Miami Volleyball Coach Email, Articles Y