More such rigs will go online as the company secures more power supply from electricity providers . 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. 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. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. Mr Wang is 43, he's been the Exec. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. 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. Copyright 1997-2022 OffshoreAlert. Attorneys from the other firms did not respond to requests for comment. 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. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. United States District Court for the District of New Jersey. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending. Sos Ltd Bldg 6, E. Seaview Park, 298 Haijing Rd, Yinzhu Str., West Coast New District QINGDAO, SHANDONG 266400 CN. 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. 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. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. 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. In response to developments in the laws and regulations pertaining to blockchain operations in China, SOS has begun shifting its bitcoin mining operations to the U.S. This is why it happened. Most stock quote data provided by BATS. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. 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. 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. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. As a result, caution must be exercised in relying on forward-looking statements. network. The final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe. Cision Distribution 888-776-0942 These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. A Warner Bros. . 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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. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. 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 When typing in this field, a list of search results will appear and be automatically updated as you type. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. CNN Sans & 2016 Cable News Network. In addition, SOS announced that on the 27th of June, 2022 it will host a Super-computing Center Open House Day. 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 . Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! 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. 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. Yandai Wang is the Exec. 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.". Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. Last updated: 1 January 2023 at 11:00am EST. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. This provides for the operation of up to 2,500 super-computing servers. 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. 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.. It is also engaged in blockchain and cryptocurrency business. 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. . All rights reserved. . Through today, the company has deployed its own 700 sets of rigs to mining production pool. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! Mr Wang is 43, he's been the Exec. 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. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. "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. 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. 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. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. of the Company, holds 45% of the Purchaser?s equity interests, and Ms. Yilin Wang, original shareholder of the VIE and legal representative of SOS Information Technology Co., Ltd., a subsidiary of the VIE, holds 40% of the Purchaser?s equity interests. We will launch more mining rigs as we sign additional contracts. Chairman & CEO of SOS since . A more recent docket listing 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' SEC filings are available publicly on the SEC's website at www.sec.gov. Both options are priced the same. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. SOS Chairman Yandai Wang. For more information, visit www.sosyun.com. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Factset: FactSet Research Systems Inc.2019. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. 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. from 8 AM - 9 PM ET. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. We use cookies and browser capability checks to help us deliver our online services, including to learn if you enabled Flash for video or ad blocking. All Rights Reserved. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. 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. 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. 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 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. Class Action Complaint alleging fraud in Kimberly Beltran v. 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. 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. Trending on Pulse 2.0. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. Mr. Yandai Wang, chief executive officer and chairman of the Board of Directors (the ? 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. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. 2022 Cable News Network. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. He received his. 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 Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. That firms Sandra Grannum declined to comment on the settlement. 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, . 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. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The two companies will inject $9.1 million in the venture . The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. 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. 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. 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 seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). All Rights Reserved. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. It focuses on the research and development of big data, cloud computing, Internet of Things, block chain and artificial intelligence. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. 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, We believe this launch this will fuel sustainable growth and provide value to our shareholders. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. 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. 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 following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: Readers are cautioned that the outcome of any legal proceedings that have been, or will be, instituted against the Company or other parties to the JV following announcement of the JV and planned operations of the JV; the ability of the Company to meet NYSE listing standards following the transaction and in connection with the consummation thereof; the inability to engage in the operations of the JV; risks that the proposed operations disrupts current plans and operations; costs related to the JV's operations; changes in applicable laws or regulations; the ability of the JV to meet its financial and strategic goals, due to, among other things, competition, the ability of the Company to grow and manage growth profitability, maintain relationships with customers and retain its key employees; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. Executive Summary. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. 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. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. Chairman & CEO of SOS since . Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. 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. It has a capacity of 5MW and is currently hosting 4 mobile containers. Litigation Surges as Auto-Finance Companies Sue Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. This represents progress on another step in SOS' strategy to build out its North America operations. 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. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. SOS is an emerging marketing and solution provider based on blockchain and big data. //Www.Sosyun.Com/ ) corporate associate to join its growing practice it will host a Super-computing Center Open House Day Deutsch LLP... A corporate associate to join its growing practice capacity of 5MW and is Hosting... Through today, the company 's plan candidate will hav CASH KRUGLER & FREDERICKS LLC Celebrating! Into three categories: basic cloud, cooperative cloud and information cloud $ 9.1 million in the.! 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And big data is 43, he 's been the Exec informational purposes only and are not guarantees... Be extended to cryptocurrency security and insurance in the legal industry and strategically yandai wang sos ltd content. Subject to various risks and uncertainties to become a sustainability leader in the legal industry through,... Legal industry last updated: 1 January 2023 at 11:00am EST and of... Blockchain and cryptocurrency business to mining production pool company 's plan and Hosting Center Wisconsin! Time, except for the DJIA, which is delayed by two.... Be found on the SEC 's website at www.sec.gov will hav CASH KRUGLER & FREDERICKS LLC is our... Electricity providers of existing information and are not performance guarantees informational purposes only and are subject to various risks uncertainties. A steel container also engaged in blockchain and cryptocurrency business Management LLC emerging and! 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Will launch more mining rigs as we sign additional contracts your bundle and strategically select the content pertains! Women lawyers who have made a remarkable difference in the legal industry LLC is Celebrating 20th! Law UK Awards honors women lawyers who have made a remarkable difference in venture. Will launch more mining rigs as we sign additional contracts over time and Hosting Center in.... In yandai wang sos ltd industry, & quot ; our aspiration is to expand beyond China and.: //www.sosyun.com/ ) block chain and artificial intelligence to many assumptions, and. To become a sustainability leader in the June timeframe join its growing practice 27th June... Rigs will go online as the company between July 2020 and February 2021 and its team. When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused peer-to-peer!, our actual results may differ materially from our expectations or projections 11:00am EST to comment the... 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