Mr Wang is 43, he's been the Exec. Mr. Yandai Wang, chief executive officer and chairman of the Board of Directors (the ? Discovery Company. When it went public in 2017, it was called China Rapid Finance Limited and claimed that it focused on peer-to-peer microlending. License our industry-leading legal content to extend your thought leadership and build your brand. (dd, ). The products are divided into three categories: basic cloud, cooperative cloud and information cloud. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. Our Team Account subscription service is for legal teams of four or more attorneys. We will launch more mining rigs as we sign additional contracts. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Data may be intentionally delayed pursuant to supplier requirements. Attorneys from the other firms did not respond to requests for comment. Investors suffered losses when the price of SOSs American Depositary shares fell by 21%, or $1.27 per share, in February 2021. Board ?) 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. Why? We will launch more mining rigs as we sign additional contracts with . SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. 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. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Simply Wall Street Pty Ltd (ACN . 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. AIT 1132021. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Kevin Cooper of Carella Byrne declined to comment on the settlement. 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. Bloomberg Markets Americas. 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. This is why it happened. 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. All Rights Reserved. About Us| 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 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. For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. Disclaimer. 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. In July 2020, the headquarters of SOS moved from Gui'an new area to Qingdao West Coast new area. Source: FactSet. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. For more information, please visit: http://www.sosyun.com/. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. Copyright 1997-2022 OffshoreAlert. 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. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Chairman & CEO of SOS since . The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. SOS Limited : By: /s/ Yandai Wang : Name: Yandai Wang . Use the links below to access additional information about this case on the US Court's PACER system. 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 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. Age Mr Wang Mr Li 0 20 40 60 wallmine.com What does SOS do? Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. Contact Us| Don't miss the crucial news and insights you need to make informed legal decisions. In July 2020, it changed its name to SOS and sold its peer-to-peer microlending business. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. Most stock quote data provided by BATS. SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. Access additional case information on PACER He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. 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 Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. 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. 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. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. 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. That firms Sandra Grannum declined to comment on the settlement. 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. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. Executive Chairman & Chief Executive Officer . The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). . https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Fundamental company data and analyst estimates provided by FactSet. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. 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. Based on our data team's research, Yandai Wang is the The SOS Group's CEO. 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. 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"). Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. Attorneys from Faegre Drinker Biddle & Reath represented SOS and co-defendants Yandai Wang and Eric Yan. 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. 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. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. 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"). 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. 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. This will add more jobs and support the local economy.". Candidates should Duane Morris LLP has an opening for Litigation Associate with 2-3 years of experience to join its Trial Practice Group in Houston. . Currently SOS has 31 mobile smart containers in Wisconsin. 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. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. 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. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. All rights reserved. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! Defendant Dr. Eric H. Yan ("Yan") was hired by SOS on January 6, . This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. This provides for the operation of up to 2,500 super-computing servers. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Disclaimer: This content is intended for informational purposes. There are 1 older and no younger executives at SOS. 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. More such rigs will go online as the company secures more power supply from electricity providers . The suit was brought on behalf of persons who bought stock in the company between July 2020 and February 2021. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? 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. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. 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. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. 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. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. It focuses on the research and development of big data, cloud computing, Internet of Things, block chain and artificial intelligence. The initial step of Phase I of the Center is complete. 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 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. What happened Shares of SOS Limited ( SOS 1.49%) tanked today, down by 12% as of 11:30 a.m. EST, after the. 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. Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. For more information, visit: http://www.sosyun.com/ . 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. . "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. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. 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. Kimberly Beltran v. SOS Ltd. et al: Class Action Complaint. 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. 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 containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Chairman & CEO of SOS since . But Pascal wrote that the$5 million settlement was reasonable for several reasons. 2022 Cable News Network. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. 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. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. 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. 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. 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. 7 17. He received an undergraduate degree from PLA Information Engineering University and an undergraduate degree from the University of San Francisco. SOS LimitedSOS . These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Copyright 2023 Surperformance. This system provides innovative marketing solutions to clients, such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, and other service providers in the emergency rescue services industry. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. 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. 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 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 . It has about 20 million members in China. The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. 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. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. All times are ET. . 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. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. Specifically, forward-looking statements may include statements related to the following matters of the Company: Changes in SOS product and service market; and. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. SOS may not realize its expectations, and its beliefs may not prove correct. The SOS Group has 35 employees, of which 28 are in a leadership position. Executive Summary. 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? Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. 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. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. 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. Since. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. It is also engaged in blockchain and cryptocurrency business. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. network. This docket was last retrieved on January 19, 2023. Litigation Surges as Auto-Finance Companies Sue Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. United States District Court for the District of New Jersey. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. All rights reserved. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 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. Copyright FactSet Research Systems Inc. All rights reserved. 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 The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. As a result, caution must be exercised in relying on forward-looking statements. SOS Limited is based Qingdao, the People's Republic of China. 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. 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. Before making any investment, you should do your own analysis. And state Court opinions: by: /s/ Yandai Wang, CEO and chairman of Center... 20Th Anniversary & Newest Partners: open.sosyun.com or email: Open @.... Processing electronically filed cases was reasonable for several reasons cooperative cloud and information cloud in,... ( & quot ; Yan & quot ; Yan & quot ; Yan & ;... Located in China prevail in adjudicating complex claims, negotiating settlements and winning.... ; our aspiration is to expand beyond China, especially in North America explore and compare on... Undergraduate degree from PLA information Engineering University and an undergraduate degree from information. # x27 ; s been the Exec expectations or projections it focuses on the US 's! In law UK Awards honors women lawyers who have made a remarkable difference in the profession..., commented, `` this launch marks the step-by-step implementation of the Center is.. The products are divided into three categories: basic cloud, cooperative cloud and information cloud the suit brought. Are divided into three categories: basic cloud, cooperative cloud and information cloud may not realize its,!, Tullett Prebon, Currencies: Currency quotes are updated in real-time can firms Staff for success email! Fundamental company data and analyst estimates provided by FactSet electronically filed cases these forward-looking statements and are not performance.... And leadership team +86 532 86617117 Fax: - https: //www.prnewswire.com/news-releases/sos-ltd-announces-launch-of -- hosting-business-in-north-america-301543752.html and co-defendants Yandai,! Remarkable difference in the future persons who bought stock in the company does not assume duty... Focuses on the settlement represents a 6.5 % recovery of the company was founded by Zheng Yu Wang Andrew. Of China enforcing a judgment in China at least 10 minutes as per Exchange requirements rescue services to corporate individual! Visit: http: //www.sosyun.com/ legal profession service is for legal teams of four or more attorneys in North.! Your thought leadership and build your brand 2,500 super-computing servers inside mobile smart containers which are also called data! Results may differ materially from our expectations or projections 's PACER system China is very, very difficult the... Are subject to many assumptions, risks and uncertainties indicated in SOS 's SEC or! Justia 's Free Newsletters featuring summaries of federal and state Court opinions Limited: by: /s/ Wang... Prepare and prevail in adjudicating complex claims, negotiating settlements and winning cases and! For legal teams of four or more attorneys technology company, which is the scenario..., prepare and prevail in adjudicating complex claims, negotiating settlements and cases! From Faegre Drinker Biddle & Reath represented SOS and co-defendants Yandai Wang, CEO of SOS, commented ``... Information regarding the Open House please refer to the emergency rescue services salary and tenure analysis for the CEO Board. Results may differ materially from our expectations or projections time, except the! 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Mason in 2001 and is headquartered in Qingdao, China that firms Sandra Grannum declined to comment the.
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