SOS LIMITED CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against SOS Limited

NEW YORK, April 9, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed  in the  United States District Court for the District of New Jersey on behalf of those who acquired SOS Limited ("SOS" or the "Company") (NYSE: SOS) American Depositary Receipts ("ADR's)  during the period from July 22, 2020, through February 25, 2021, inclusive (the ''Class Period'').

All investors who purchased the ADR's of  SOS Limited and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the ADR's of SOS Limited., you may, no later than June 1, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADR's of SOS Limited.

PLEASE CLICK HERE TO JOIN CASE

The filed complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors:

• SOS had misrepresented the true nature, location, and/or existence of at least one of the principal executive offices listed in its SEC filings;
• HY and FXK were either undisclosed related parties and/or entities fabricated by the Company;
• the Company had misrepresented the type and/or existence of the mining rigs that it claimed to have purchased; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On February 26, 2021 Hindenburg Research ("Hindenburg") and Culper Research ("Culper") released commentary on SOS, claiming that the Company was an intricate "pump and dump" scheme that used fake addresses and doctored photos of crypto rigs to create an illusion of success.

On this news, SOS's ADR price declined by $1.27 per ADR, or approximately 21.03%, to close at $4.77 per ADR on February 26, 2021.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at  www.whafh.com.

Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP

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