NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in SVB Financial Group (“SVB” or the “Company”) SIVBQ of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of SVB investors who were adversely affected by alleged securities fraud between November 5, 2020 and March 10, 2023. Follow the link below to get more information and be contacted by a member of our team:
SIVBQ investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company failed to disclose to investors the risks presented by impending rising interest rates; (2) the Company failed to disclose to investors that, in an environment with high interest rates, SVB would be worse off than banks that did not cater to tech startups and venture capital-backed companies; (3) the Company failed to disclose that, if its investments were negatively affected by rising interest rates, it was particularly susceptible to a bank run; (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
WHAT’S NEXT? If you suffered a loss in SVB during the relevant time frame, you have until May 12, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise…
The post SIVBQ LAWSUIT ALERT: Levi & Korsinsky Reminds SVB Financial Group Investors of a… – Press Release appeared first on CaymanMama.com.
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