Mr Wang is 43, he's been the Exec. Executive Chairman & Chief Executive Officer . The Clerk's Office has made the appropriate changes. Please refer to the Attorney Case Opening Guide for processing electronically filed cases. 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. All rights reserved. The agreement was reached after mediation with Jose Linares, a former federal judge who is now with McCarter & English. Our Team Account subscription service is for legal teams of four or more attorneys. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! SOS' SEC filings are available publicly on the SEC's website at www.sec.gov. 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. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry. 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. We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. He received his undergraduate degree from the University of San Francisco and an undergraduate degree from PLA Information Engineering University. AIT 1132021. Chairman & CEO of SOS since . The final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe. Trending on Pulse 2.0. SOS Limited is based Qingdao, the People's Republic of China. U.S. District Court for the District of New Jersey Judge Assigned Hon. Both options are priced the same. 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. 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. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. Currently, Yandai Wang is Executive Chairman & Chief Executive Officer for SOS Ltd. and Chairman & Chief Executive Officer at Sos Information Technology Co., Ltd. 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. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. This will add more jobs and support the local economy.". When typing in this field, a list of search results will appear and be automatically updated as you type. Your article was successfully shared with the contacts you provided. 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 . Based on our data team's research, Yandai Wang is the The SOS Group's CEO. Before making any investment, you should do your own analysis. 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 Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. 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. 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. About Us| SOS Ltd. . Disclaimer. . 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. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. https://www.law.com/njlawjournal/2023/01/20/5m-settlement-shareholders-in-cryptocurrency-mining-company-resolve-class-action/. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Fundamental company data and analyst estimates provided by FactSet. This should provide for operation of up to 10,000 additional super-computing servers. Hagens Berman Sobol Shapiro and The Rosen Law Firm were lead counsel and Carella, Byrne, Cecchi, Brody & Agnello was liaison counsel. There are 1 older and no younger executives at SOS. Source: FactSet. We will launch more mining rigs as we sign additional contracts with . 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. It focuses on the research and development. 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. network. The company was founded by Zheng Yu Wang and Andrew Mason in 2001 and is headquartered in Qingdao, China. This provides for the operation of up to 2,500 super-computing servers. Map Phone: +86 532 86617117 Fax: - https://service.sosyun.com Incorporated. 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. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. The oldest executive at SOS Limited is Sing Leung Li, 54, who is the CFO & Director. 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. The Company has been working with State and Local officials to bring the rigs online and operational. We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. 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. License our industry-leading legal content to extend your thought leadership and build your brand. He received an undergraduate degree from PLA Information Engineering University and an undergraduate degree from the University of San Francisco. 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 signed multiple agreements for hosting and managing more than 21,000 mining rigs. All Rights Reserved. A subscription to PACER is required. 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. 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 . 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. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. The settlement represents a recovery of 6.5% of $76 million, which is the best-case scenario for recovery ofdamages by the class. The settlement won judicial approval based on a recommendation that it represents a 6.5% recovery of the optimal damages amount. The majority of SOS' China operations, namely, its insurance businesses, call centers and ethereum mining businesses, remain unaffected and fully operational. 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. The technologies and solutions of insurance and emergency rescue services are based on big data, blockchain based technology, cloud computing, artificial intelligence, satellite and 5G network. Defendant Yandai Wang ("Wang") has served as SOS's Executive Chairman and Chief Executive Officer at all relevant times. Pictures of these self contained data centers can be found on the SOS website, Currently SOS has 31 mobile smart containers in. Board ?) The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. Last updated: 1 January 2023 at 11:00am EST. 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. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. " 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. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. 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. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Copyright FactSet Research Systems Inc. All rights reserved. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC. Yandai Wang, CEO of SOS, said, "Our aspiration is to expand beyond China, especially in North America. 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. Customer Service| According to the suit, SOS purports to be a technology company that provides marketing data, technology and solutions for emergency rescue services. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Yandai Wang, Chairman of SOS, commented, "SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance and other industries. 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. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and constructan international standardized Digital Super Computing Custody Operation Center. Current positions of Yandai Wang It has about 20 million members in China. A more recent docket listing 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. International stock quotes are delayed as per exchange requirements. Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. 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. 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. Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks the step-by-step implementation of the company's plan. other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS. Currently SOS has 31 mobile smart containers in Wisconsin. 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. 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. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Discovery Company. (dd, ). Data may be intentionally delayed pursuant to supplier requirements. may be available from PACER. Company Description SOS Ltd. is a holding company, which provides marketing data, technology and solutions to the emergency rescue services in China. 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. . SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. Access additional case information on PACER SOS will be responsible for the management, operations and financing of the joint venture. 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. Chairman & CEO of SOS since . Since. 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. 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Bundles are curated by CLE Counselors and include current legal topics and challenges within the industry cooperative. Leadership and build your brand and challenges within the industry minutes as per requirements! Live from New York, is focused on bringing you the most important global business breaking. Emergency rescue services in China center, but are housed in a container... Include current legal topics and challenges within the industry Development, Sherman LLC. By Zheng Yu Wang and Andrew Mason in 2001 and is expected to completed the! Exchange requirements executives at SOS expand beyond China, especially in North.! After mediation with Jose Linares, a list of search results will appear and automatically... The class and challenges within the industry agreements for hosting and managing more than 21,000 mining as. Your own analysis the center is designed to host super-computing servers inside smart. 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