San Diego, California--(Newsfile Corp. - March 13, 2023) - Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of SVB Financial Group ("SVB" or "the Company") (NASDAQ: SIVB). The class action is on behalf of shareholders who purchased SVB common stock between June 16, 2021 and March 10, 2023, inclusive (the "Class Period"). Investors are hereby notified that they have until May 12, 2023, to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/svb-financial-group-2
There is no cost or obligation to you.
According to the Complaint, the Company made false and misleading statements to the market. SVB failed to inform investors of risks related to rising interest rates. The Company also failed to inform investors of the risks related to its business based on its customer base of tech startups and other venture capital-backed businesses in a high-interest rate environment. The Company failed to disclose that it was susceptible to a bank run due to its poor investment performance. Based on these facts, the Company's public statements were false and materially misleading throughout the Class Period. When the market learned the truth about SVB, investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the SVB class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the SVB class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158300
