The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. Chairman & CEO of SOS since . 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 cryptocurrency miner has struck a deal with investors to exercise warrants. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. Copyright 2023 Surperformance. 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. Contact Us| Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). Based on our data team's research, Yandai Wang is the The SOS Group's CEO. Bloomberg Markets Americas. 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. 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. We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". 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. We will launch more mining rigs as we sign additional contracts with . SOS will be responsible for the management, operations and financing of the joint venture. The SOS Group has 35 employees, of which 28 are in a leadership position. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. The two companies will inject $9.1 million in the venture . Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. Copyright 2023 ALM Global, 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. (pr, ), Judge Robert B. Kugler and Magistrate Judge Matthew J. Skahill added. Through today, the company has deployed its own 700 sets of rigs to mining production pool. 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. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. 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 Join New Jersey Law Journal now! Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Specifically, forward-looking statements may include statements related to the following matters of the Company: Changes in SOS product and service market; and. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Chairman & CEO of SOS since . Last updated: 1 January 2023 at 11:00am EST. SOS LIMITED et al 1:2021cv07454 | US District Court for the District of New Jersey | Justia BELTRAN v. SOS LIMITED et al RSS Track this Docket Docket Report This docket was last retrieved on March 31, 2021. Fundamental company data and analyst estimates provided by FactSet. 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 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. Both options are priced the same. Learn about SOS Limited (SOS) stock's management team. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. SOS Ltd - UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 2022 Commission File Number: 001-3 - 6-K - December 06, 2022 . Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. Executive Chairman & Chief Executive Officer . Data are provided 'as is' for informational purposes only and are not intended for trading purposes. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. The Company anticipates it will offer Open House Days from time to time. All rights reserved. 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. . That firms Sandra Grannum declined to comment on the settlement. International stock quotes are delayed as per exchange requirements. 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. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. 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. 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. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. Most stock quote data provided by BATS. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. 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. Access will be granted to all successfully registered visitors. In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. Why? Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. 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? 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. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 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. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. 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