Hagens Berman Sobol Shapiro LLP and Rosen Law Firm,

CAMDEN, NJ, Aug. 15, 2022 (GLOBE NEWSWIRE) — Hagens Sobol Shapiro LLP and The Rosen Law Firm, PA announce that the United States District Court for the District of New Jersey has approved the following announcement of an appeal proposed collective securities settlement that would benefit purchasers of SOS Limited American Depositary Shares (NYSE: SOS):

SUMMARY NOTICE OF PENDENCE AND OFFERS CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SOS LIMITED (“SOS”) AMERICAN DEPOSITARY SHARES (“ADS”) FROM JULY 22, 2020 TO FEBRUARY 26, 2021, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an order of the United States District Court for the District of New Jersey, that a hearing will be held on November 29, 2022 at 3:00 p.m. before the Honorable Robert B. Kugler, United States Judge of the District of New Jersey, United States Courthouse, Courtroom 4D, 4th & Cooper Streets, Camden, NJ 08101 for the purpose of determining: (1) whether the proposed settlement of the claims in the above-noted action (“Settlement”) for consideration comprising the sum of $5,000,000 (“Settlement Amount”) must be approved by the Court as being fair, reasonable and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable and adequate; (3) if the Principal Plaintiffs’ attorneys’ (“Claimants’ Attorneys”) request for an award of attorney’s fees of up to one-third plus interest of the Settlement Amount, reimbursement of expenses not to exceed $33,000 $ and an inducement payment of a maximum total of $10,000 to the Principal Plaintiffs must be approved; and (4) whether this action should be dismissed with prejudice as set forth in the settlement dated May 20, 2022 (the “Settlement”). The Court reserves the right to hold the hearing by telephone or videoconference.

If you purchased or otherwise acquired SOS ADS during the period July 22, 2020 through February 26, 2021, both dates inclusive (the “Settlement Class Period”), you are a “Settlement Class Member” and your rights may be affected by these Rules, including the release and extinguishment of any claims you may have relating to your participation in SOS securities. If you have not received a detailed Notice of Hold and Proposed Class Action Settlement (“Notice”) and a copy of the Proof of Claim and Release Form, you can download a copy from www.strategiclaims.net /SOS/ or obtain copies by contacting the Claims Administrator at: SOS Limited Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, PO Box 230, Media, PA 19063; (Tel.) (866) 274-4004; (fax) (610) 565-7985; [email protected].

If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must electronically submit a completed Proof of Claim by 11:59 p.m. on November 8, 2022 to the Claims Administrator. , establishing that you are entitled to recovery. If you are unable to submit a proof of claim electronically, you may mail a proof of claim at your own expense. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form by November 8, 2022 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written request to opt out, you will be bound by any judgment rendered in the action, whether or not you make a claim.

If you wish to be excluded from the Settlement Class, you must submit a request to be excluded to the Claims Administrator for receipt no later than November 8, 2022, in the manner and form explained in the Notice. . All Settlement Class Members who have not opted out of the Settlement Class will be bound by any judgment and releases entered therein in the action pursuant to the stipulation of the settlement.

Any objection to the settlement, plan of distribution, or plaintiffs’ attorney’s request for award of attorneys’ fees and reimbursement of expenses and award to lead plaintiffs must be in the manner and form explained in the detailed notice and received no later than November 8. , 2022, to each of the following:

court clerk
United States District Court
District of New Jersey
Mitchell H. Cohen Building and US Courthouse
4th and Cooper Streets
Room 1050
Camden, New Jersey 08101

THE COUNSEL FOR THE PLAINTIFFS:
Reed Kathrein
Wesley Wang
HAGENS BERMAN SOBOL SHAPIRO LLP
715 Hearst Avenue, Suite 300
Berkeley, CA 94710

Laurence M. Rosen
Philip Kim
Yu Shi
THE ROSEN LAW FIRM, PA
A gateway center, Suite 2600
Newark, New Jersey 07102

COUNSEL FOR THE DEFENDANTS:
Jeffrey S. Jacobson
Sandra D. Grannum
FAEGRE DRINKER BIDDLE & REATH LLP
1177 Americas Avenue, 41st Floor
New York, NY 10036

If you have any questions about the Settlement, you can call or write Plaintiffs’ Counsel:

HAGENS BERMAN SOBOL SHAPIRO LLP
Reed Kathrein
Wesley Wang
715 Hearst Avenue, Suite 202
Berkeley, CA 94710

THE ROSEN LAW FIRM, PA
Laurence M. Rosen
Philip Kim
Yu Shi
A gateway center, Suite 2600
Newark, New Jersey 07102

PLEASE DO NOT COMMUNICATE WITH THE COURT OR THE CLERK’S OFFICE ABOUT THIS NOTICE.

Dated: July 20, 2022

BY ORDER OF THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW JERSEY

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