Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Executive Chairman & Chief Executive Officer . SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. All rights reserved. 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. Yandai Wang is the Exec. Our Team Account subscription service is for legal teams of four or more attorneys. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . Defendant Dr. Eric H. Yan ("Yan") was hired by SOS on January 6, . . 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Most stock quote data provided by BATS. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. sos SOSAI+++ Copyright FactSet Research Systems Inc. All rights reserved. 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. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. 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. 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. He received an undergraduate degree from PLA Information Engineering University and an undergraduate degree from the University of San Francisco. In addition, SOS announced that on the 27th of June, 2022 it will host a Super-computing Center Open House Day. AIT 1132021. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. The final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe. The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big date, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. 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. 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. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. 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. 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. Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. 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. . Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. 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 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. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. Attorneys from the other firms did not respond to requests for comment. CNN Sans & 2016 Cable News Network. Cision Distribution 888-776-0942 For more information, please visit: http://www.sosyun.com/. United States District Court for the District of New Jersey. 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. 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. 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. 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. . The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company . The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. A more recent docket listing may be available from PACER . 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. It is also engaged in blockchain and cryptocurrency business. It is also engaged in blockchain and cryptocurrency business. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. 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 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 SOS Ltd. . (Podcast). Source: FactSet. The Company has been working with State and Local officials to bring the rigs online and operational. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia. Learn about SOS Limited (SOS) stock's management team. 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 is an emerging marketing solution provider based on blockchain and big data drive. Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? 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, chief executive officer and chairman of the Board of Directors (the ? 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. 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. Through today, the company has deployed its own 700 sets of rigs to mining production pool. 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. 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. For more information, visit: http://www.sosyun.com/ . 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. According to the suit, SOS purports to be a technology company that provides marketing data, technology and solutions for emergency rescue services. 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. 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? He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. 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 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. Since. Disclaimer. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. 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"). A subscription to PACER is required. 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 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. We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. This provides for the operation of up to 2,500 super-computing servers. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. SOS has signed multiple agreements for hosting and managing more than 21,000 mining rigs. Chairman & CEO of SOS since . The two companies will inject $9.1 million in the venture . Access additional case information on PACER Factset: FactSet Research Systems Inc.2019. Age Mr Wang Mr Li 0 20 40 60 wallmine.com What does SOS do? 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. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. (pr, ), Judge Robert B. Kugler and Magistrate Judge Matthew J. Skahill added. 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. SOS Limited, described as a Cayman Islands-domiciled, China-based "technology company that purportedly provides marketing data, technology, and solutions for emergency rescue services" whose securities are listed on the New York Stock Exchange; Yandai Wang, and Eric H. Yan at the U. S. District Court for the District of New Jersey. For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Board ?) 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 Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". Access will be granted to all successfully registered visitors. All rights reserved. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. That firms Sandra Grannum declined to comment on the settlement. Kevin Cooper of Carella Byrne declined to comment on the settlement. 7 17. License our industry-leading legal content to extend your thought leadership and build your brand. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Trending on Pulse 2.0. We will launch more mining rigs as we sign additional contracts. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. U.S. District Court for the District of New Jersey Judge Assigned Hon. 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. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. Litigation Surges as Auto-Finance Companies Sue Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. 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 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. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. This will add more jobs and support the local economy.". 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. Use the links below to access additional information about this case on the US Court's PACER system. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. may be available from PACER. When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending. 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. Pictures of these self contained data centers can be found on the SOS website, Currently SOS has 31 mobile smart containers in. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. 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. 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