BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of SOS Limited (“SOS” or the “Company”) (NYSE: SOS) investors concerning the Company’s possible violations of federal securities laws.
On February 26, 2021, Hindenburg Research and Culper Research published reports regarding SOS, alleging that the Company was a "pump and dump" scheme that used fake addresses and doctored photos of crypto miners to create an illusion of success. The reports pointed out that SOS lists a hotel room as the company’s headquarters and that SOS purportedly bought mining rigs from a fake shell company. Moreover, the reports noted that the photographed SOS "miners" weren't the A10 Pros the company claimed to own but were actually Avalon's A1066 miners. Hindenburg went even further and found the original images from SOS's site belonged to a rival RHY.
On this news, the Company’s share price fell $1.27, or 21%, to close at $4.77 per share on February 26, 2021.
If you purchased SOS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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