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INVESTIGATION NOTICE: Scott+Scott Attorneys at Law LLP Announces Investigation into SVB Financial Group (SIVB)
March 13, 2023 3:30 PM EDT | Source: Scott+Scott Attorneys at Law LLP
New York, New York--(Newsfile Corp. - March 13, 2023) - Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, is investigating whether SVB Financial Group ("SVB Financial" or the "Company") (NASDAQ: SIVB) and certain of its officers and directors issued false and/or misleading statements and/or failed to disclose information pertinent to investors in violation of federal securities laws. If you purchased or otherwise own SVB Financial securities, and have suffered a loss, you are encouraged to contact Jonathan Zimmerman at (888) 398-9312 for more information.
CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION
On March 8, 2023, SVB Financial announced that it planned to raise more than $2 billon, including $500 million from private equity firm General Atlantic and $1.75 billion through a public offering. The Company also announced it would take a loss of $1.8 billion on the sale of $21 billion worth of securities. Based on this news, shares of SVB Financial fell by more than 60% in afternoon trading on March 9, 2023.
Then, on March 10, 2023, California bank regulators put SVB Financial into receivership, appointing the Federal Deposit Insurance Corporation as receiver. Following this development, shares in SVB Financial were subsequently halted.
What You Can Do - CLICK HERE
If you purchased or otherwise own SVB Financial securities and have suffered a loss, realized or unrealized, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312 or at jzimmerman@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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CONTACT:
Scott+Scott Attorneys at Law LLP
Jonathan Zimmerman
(888) 398-9312
jzimmerman@scott-scott.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158261