NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of SOS Limited (“SOS” or the “Company”) (NYSE: SOS) from July 22, 2020, through February 25, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the District of New Jersey alleges violations of the Securities Exchange Act of 1934.
If you purchased SOS securities, and/or would like to discuss your legal rights and options please visit SOS Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors: (i) SOS had misrepresented the true nature, location, and/or existence of at least one of the principal executive offices listed in its SEC filings; (ii) HY and FXK were either undisclosed related parties and/or entities fabricated by the Company; (iii) 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 American depositary share (“ADS”) price fell $1.27 per share, or 21.03%, to close at $4.77 per ADS on February 26, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than June 1, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased SOS securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/soslimited-sos-shareholder-class-action-lawsuit-stock-fraud-384/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Matthew E. Guarnero
Bernstein Liebhard LLP