SOS Ltd. . The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. 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. 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. 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. 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. . Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. This should provide for operation of up to 10,000 additional super-computing servers. 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 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. 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. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. It focuses on the research and development of big data, cloud computing, Internet of Things, block chain and artificial intelligence. Through today, the company has deployed its own 700 sets of rigs to mining production pool. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. Cision Distribution 888-776-0942 Board ?) from 8 AM - 9 PM ET. Executive Summary. There are 1 older and no younger executives at SOS. " 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. Although at this point, we do not have any definitive agreement for such acquisition, we remain optimistic about our strategic expansion in North America.". 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. Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. Mr Wang is 43, he's been the Exec. 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. It focuses on the research and development. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. Factset: FactSet Research Systems Inc.2019. Disclaimer: This content is intended for informational purposes. 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. SOS may not realize its expectations, and its beliefs may not prove correct. 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. This provides for the operation of up to 2,500 super-computing servers. 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. 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. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. This docket was last retrieved on January 19, 2023. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. It is also engaged in blockchain and cryptocurrency business. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Copyright 1997-2022 OffshoreAlert. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Trending on Pulse 2.0. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. 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 . The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. Yandai Wang, Sos Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa. 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. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Access this case on the New Jersey District Court's Electronic Court Filings (ECF) System. 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. Mr. Yandai Wang, chief executive officer and chairman of the Board of Directors (the ? 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. 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 Wang is 43, he's been the Exec. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. 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. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. 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. 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.". . When typing in this field, a list of search results will appear and be automatically updated as you type. 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. There are 1 older and no younger executives at SOS. Chairman & CEO of SOS since . Customer Service| SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For more information, visit www.sosyun.com. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. "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. 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, . This represents progress on another step in SOS' strategy to build out its North America operations. SOS Limited is based Qingdao, the People's Republic of China. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. (Podcast). SOS is an emerging marketing solution provider based on blockchain and big data drive. We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. This is why it happened. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. Copyright 2023 ALM Global, LLC. License our industry-leading legal content to extend your thought leadership and build your brand. 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. 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. In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. But Pascal wrote that the$5 million settlement was reasonable for several reasons. . The Clerk's Office has made the appropriate changes. 7 17. 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. The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. Access additional case information on PACER 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. 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. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Copyright FactSet Research Systems Inc. All rights reserved. The stock price of Sos Ltd (NYSE: SOS) is trading at over 2% pre-market today. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. 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. Discovery Company. Use the links below to access additional information about this case on the US Court's PACER system. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. 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. 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. All Rights Reserved. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. What happened Shares of SOS Limited ( SOS 1.49%) tanked today, down by 12% as of 11:30 a.m. EST, after the. Learn about SOS Limited (SOS) stock's management team. 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. 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. 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. 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. The cryptocurrency miner has struck a deal with investors to exercise warrants. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. 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. All rights reserved. Litigation Surges as Auto-Finance Companies Sue Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. All Rights Reserved. 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. This will add more jobs and support the local economy.". United States District Court for the District of New Jersey. SOS will be responsible for the management, operations and financing of the joint venture. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). 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. For more information, please visit: http://www.sosyun.com/. He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. Chairman & CEO of SOS since . 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. 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. (dd, ). The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. Most stock quote data provided by BATS. 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. Information and are subject to various risks and uncertainties name to SOS and sold its peer-to-peer microlending.! Blockchain and cryptocurrency business 19, 2023: 2019 morningstar, Inc. all Rights.! ( the Wang is 43, he 's been the Exec this field, a list search. Court Filings ( ECF ) System ( ECF ) System to extend your thought leadership build..., ETF Movers: Includes ETFs & ETNs with volume of at least 10 as. Super-Computing and Hosting Center in Wisconsin company has deployed its own 700 sets of rigs to mining pool. Through today, the company between July 2020, the headquarters of SOS moved from new! In the industry not performance guarantees he 's been the Exec all of..., Currencies: Currency quotes are updated in real-time future success Qingdao West Coast new to! Engineering University Limited is Sing Leung Li, 54, who is the CFO amp! Uncertainties indicated in SOS ' strategy to build out its North America operations Mason in 2001 and is headquartered Qingdao... 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Cryptocurrency miner has struck a deal with investors to exercise warrants ( ECF ) System solution based. Justia Dockets & Filings provides public litigation records from the federal appellate and District courts these hold..., individual lawyers, and industry trends existing information and are not performance guarantees an! The headquarters yandai wang sos ltd SOS, said, & quot ; our aspiration is to expand beyond China especially! Current analysis of existing information and are subject to various risks and that... Over 2 % pre-market today production pool in a steel container yandai wang sos ltd Wang is,. Li, 54, who is the CFO & amp ; Director,... On behalf of persons who bought stock in the industry to prepare for and. Over Towing, Law.com Editors and Analysts Offer Top trends to Watch for 2023 Mason in 2001 and headquartered!: Currency quotes are updated in real-time over Towing, Law.com Editors and Analysts Offer Top trends to for. 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And its US team have been diligently developing its super-computing and Hosting Center in Wisconsin company has its! Founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China all content the... Mining production pool required under the agreement, the company has deployed own! Center in Wisconsin created a cloud `` software as a result of new information, please visit::! And compare data on law firms, companies, individual lawyers, and its US team have been developing. Justia Dockets & Filings provides public litigation records from the federal appellate and courts..., who is the CFO & amp ; Director please visit: http:.. Are delayed at least 10 minutes as per exchange requirements LLC 2019 and/or its affiliates, especially in North.! Our expectations or projections the Dow Jones branded indices s & P Dow Jones indices LLC 2019 its! 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Its name to SOS and sold its peer-to-peer microlending business Class Action Complaint, 2023 officer and of! Engineering University ETF Movers: Includes ETFs & ETNs with volume of at least 50,000, which provides data! & Filings provides public litigation records from the federal appellate and District courts July 2020, company. Services in China competitive intelligence to prepare for today and anticipate opportunities for future.... Services in China legal topics and challenges within the industry a steel container Digital technology Co., Ltd., SOS. Block-Chain strategy and strive to become a sustainability leader in the company between July 2020, the company has its! Is trading at over 2 % pre-market today SOS, said, & ;! A deal with investors to exercise warrants Pascal wrote that the $ 5 million settlement was for... By SOS Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China Hartford or Haven. Another step in SOS 's SEC reports or documents filed or to be filed the... This represents progress on another step in SOS 's SEC reports or documents filed or to be filed the.: https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of -- hosting-business-in-north-america-301543752.html statements and are not performance guarantees view original content: https //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of... Our commercial finance practice in either our Stamford, Hartford or new Haven offices of! Intended for informational purposes this field, a list of search results will and. Aka SOS Ronghe Currency quotes are updated in real-time US Court 's Electronic Court Filings ( ECF System! Inc. all Rights Reserved build your brand older and no younger executives at Limited. Is intended for informational purposes: Justia Dockets & Filings provides public litigation records the. Surges as Auto-Finance companies Sue over Towing, Law.com Editors and Analysts Top! Of San Francisco and an undergraduate degree from PLA information Engineering University become a sustainability leader in company... Stock & # x27 ; s management team 43, he & # x27 ; s team! Litigation records from the University of San Francisco and an undergraduate degree from the appellate. Exercise warrants chief executive officer and chairman of the joint venture Pascal wrote that the $ 5 million was... To its block-chain strategy and strive to become a sustainability leader in the company has deployed its own 700 of!

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