Under the agreement, the new joint venture will be called SOS Ronghe Digital Technology Co., Ltd., aka SOS Ronghe. Data may be intentionally delayed pursuant to supplier requirements. 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. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties; SOS' estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans. 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. Simply Wall Street Pty Ltd (ACN . SOS Chairman Yandai Wang. Factset: FactSet Research Systems Inc.2019. may be available from PACER. Join New Jersey Law Journal now! 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. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. SOS is an emerging marketing and solution provider based on blockchain and big data. Learn about SOS Limited (SOS) stock's management team. 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, 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. There are 1 older and no younger executives at SOS. 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. Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. The companys purported transition to cryptocurrency mining was dependent on an alleged deal it claimed to have entered with HY International Group,which calls itself the worlds largest mining machine matchmaker, to acquire 15,645 mining rigsi.e., personal computing machines built specifically for cryptocurrency miningfor $20 million, and the companys plans to purchase FXK Technology Corp., a purported Canadian cryptocurrency technology firm, the suit said. 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. Under terms of the agreement, Niagara Development will be responsible for providing up to 150MW of electricity, including electricity generated from renewable sources, and construction the Digital Super Computing Custody Operation Center. 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. As a result, SOSs public statements were false and misleading, the suit said. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. 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. Site Map, Advertise| Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Last updated: 1 January 2023 at 11:00am EST. Executive Chairman & Chief Executive Officer . These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. We decided to acquire a sustainable power supply as far as possible, as we expand our blockchain operations into North America and look forward to successful operation . 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. The Clerk's Office has made the appropriate changes. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. 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 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 . 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. mobile smart containers which are also called containerized data centers. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. 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. 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. Since. The defendants are located in China, and enforcing a judgment in China is very, very difficult, the magistrate wrote. 2022 Cable News Network. SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. The SOS Group has 35 employees, of which 28 are in a leadership position. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. 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, . 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. Why? 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. 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, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. International stock quotes are delayed as per exchange requirements. 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. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. 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. Bloomberg Markets Americas. Through today, the company has deployed its own 700 sets of rigs to mining production pool. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. 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. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. For more information, visit: http://www.sosyun.com/ . This docket was last retrieved on January 19, 2023. 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. 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. 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. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. 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. Access will be granted to all successfully registered visitors. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. The stock price of Sos Ltd (NYSE: SOS) is trading at over 2% pre-market today. But Pascal wrote that the$5 million settlement was reasonable for several reasons. It operates SOS cloud emergency rescue service software as a service platform that offers basic cloud products, such as medical rescue, car rescue, financial rescue, and mutual assistance rescue cards; cooperative cloud products, including information rescue center, intelligent big data, and intelligent software and hardware; and information cloud products, such as News Today and E-Commerce Today. 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. QINGDAO, China, June 21, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company"or "SOS") announced today that it has entered into a joint venture agreement with Niagara Development LLC ("Niagara Development"), a New Jersey limited liability company, for a joint venture to be based in Niagara, Wisconsin. According to the suit, SOS purports to be a technology company that provides marketing data, technology and solutions for emergency rescue services. It has a capacity of 5MW and is currently hosting 4 mobile containers. " 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. 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. There are 1 older and no younger executives at SOS. SOS Ltd. . Pictures of these self contained data centers can be found on the SOS website, (http://www.sosyun.com/). 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. 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. Access this case on the New Jersey District Court's Electronic Court Filings (ECF) System. For more information regarding the Open House please refer to: open.sosyun.com or email: open@sosyun.com. It focuses on the research and development of big data, cloud computing, Internet of Things, block chain and artificial intelligence. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. 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. 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 Over 680 client hosted servers have been deployed in mobile smart containers to date. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. Trending on Pulse 2.0. Cision Distribution 888-776-0942 SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. 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. 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. 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. For more information, visit www.sosyun.com. Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. sos SOSAI+++ The initial step of Phase I of the Center is complete. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Litigation Surges as Auto-Finance Companies Sue Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. This will add more jobs and support the local economy.". Data are provided 'as is' for informational purposes only and are not intended for trading purposes. (Podcast). 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 the other firms did not respond to requests for comment. All times are ET. We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. 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. Copyright 1997-2022 OffshoreAlert. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. Executive Chairman & Chief Executive Officer, Chief Financial Officer & Executive Director. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. Executive Summary. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. What happened Shares of SOS Limited ( SOS 1.49%) tanked today, down by 12% as of 11:30 a.m. EST, after the. 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. U.S. District Court for the District of New Jersey Judge Assigned Hon. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. This is why it happened. . We believe this launch this will fuel sustainable growth and provide value to our shareholders. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. Disclaimer: This content is intended for informational purposes. A Warner Bros. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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' SEC filings are available publicly on the SEC's website at www.sec.gov. This represents progress on another step in SOS' strategy to build out its North America operations. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! License our industry-leading legal content to extend your thought leadership and build your brand. Your article was successfully shared with the contacts you provided. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. network. Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. Mr Wang is 43, he's been the Exec. Currently, Yan serves as Vice President of SOS Information Technology Co., Ltd., the Company's operating subsidiary through which the . 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. SOS SOS Limited - ADR 85,810 $4.95 $0.24 (4.62%) Today $5.18 0.23 (4.65%) Pre-Market Market Cap $29.56M Volume (M) 871.00 52-Wk High $45.00 52-Wk Low $2.54 About Feed Sentiment Fundamentals News There is no chart data available for this period 1d 1w 1m 3m 6m 1y All Sentiment Score Message Volume Score Disclaimer: This is informational only. "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. 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. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. This provides for the operation of up to 2,500 super-computing servers. Contact Us| AIT 1132021. . Specifically, forward-looking statements may include statements related to the following matters of the company: Ability to implement its business plan;Changes in SOS product and service market; andExpansion plans and opportunities. . 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.". Before making any investment, you should do your own analysis. The two companies will inject $9.1 million in the venture . 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, 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. 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. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. All rights reserved. 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. 7 17. About Us| A more recent docket listing may be available from PACER . Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Specifically, forward-looking statements may include statements related to the following matters of the Company: Changes in SOS product and service market; and. 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. 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. Over Towing, Law.com Editors and Analysts Offer Top Trends to Watch for 2023 these containers hold the complete infrastructure! 5Mw and is currently hosting 4 mobile containers Digital technology Co.,,... Mr. Yandai Wang, CEO and Chairman of SOS, said, & quot ; our aspiration to. Attorneys with our 2 bundle options quot ; our aspiration is to expand beyond China, especially North... Information, visit: http: //www.sosyun.com/ ): Certain market data is the property of Mercantile! Docket listing may be extended to cryptocurrency security and insurance in the.! Thought leadership and build your bundle and strategically select the content that pertains to your needs its... 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