简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Shareholders of SVB Financial Group accused the business, CEO Greg Becker, and CFO Daniel Beck of hiding how increasing interest rates would make its Silicon Valley Bank division vulnerable to a bank run in a planned class action lawsuit submitted on March 14, 2023.
Shareholders of SVB Financial Group accused the business, CEO Greg Becker, and CFO Daniel Beck of hiding how increasing interest rates would make its Silicon Valley Bank division vulnerable to a bank run in a planned class action lawsuit submitted on March 14, 2023. The case was submitted in federal court in San Jose, California, and is probably the first of many claims to be made regarding the failure of Silicon Valley Bank, which was shut down by US authorities on March 10th following a spike in account withdrawals. The bank's projected $209 billion in assets and $175.4 billion in savings at the time of its bankruptcy made it the biggest US bank failure since the 2008 financial disaster.
According to the complaint, SVB neglected to explain how rising interest rates would harm its business strategy and leave it worse off than banks with various clientele. Chandra Vanipenta is the leader of the shareholder group, which is suing SVB owners for undefined losses between June 16th, 2021, and March 10th, 2023. The failure of Silicon Valley Bank has sparked worries about a ripple effect among other affluent clientele-serving lenders, including big regional banks and start-up technology firms.
Two days after revealing a $1.8 billion after-tax loss from investment sales and outlining plans to raise capital, SVB said on March 13 that it would look into strategic options for the company's remaining operations now that its core banking operations have been shed. The case number is 23-01097 in Vanipenta v. SVB Financial Group et al., before the Northern District of California's federal courts.
Install the WikiFX on your smartphone to stay updated on the latest news.
Download link: https://www.wikifx.com/en/download.html?source=fma3
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WikiFX, as a globally leading forex investment ecosystem service platform, has always been committed to providing fair and authoritative broker verification services for forex investors, while offering solid rights protection support for every victim of forex investment. On February 26, 2025, WikiFX once again launched its annual "3·15 Forex Rights Protection Day" event, aiming to empower forex investors to speak out and defend their rights through open, transparent, and robust means.
Nigeria’s oil and gas industry is experiencing a surge in investment, fueled by policy reforms and international collaboration, paving the way for continued energy expansion.
The global trade war is intensifying as countries continue to raise tariffs, aiming to protect their own economies while creating greater market uncertainty. In this tit-for-tat game, who is truly bearing the brunt?
Launched in 2019, Immediate Edge claims to be an automated cryptocurrency trading platform using AI technology for crypto trading services. The platform requires a minimum deposit of $250 to begin trading, which is relatively expensive for many investors. During its short operation, Immediate Edge failed to establish a positive reputation. The platform has undergone frequent domain changes and has repositioned itself as an intermediary connecting users with investment firms—a move that appears designed to obscure its actual operations. Immediate Edge restricts services to investors from the United States; it remains accessible to users in other regions.