BENSALEM, Pa., March 28, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against SVB Financial Group ("SVB" or the "Company") (NASDAQ: SIVB, SIVBP).
Class Period: June 16, 2021 – March 10, 2023
Lead Plaintiff Deadline:May 12, 2023
Investors suffering losses on their SVB investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) that rising interest rates were negatively impacting the Company's investments in bonds; (2) that, because the Company's clients were highly concentrated in the areas of tech startups and venture capital-backed companies, SVB was facing unique liquidity risks in an environment with high interest rates; (3) that, as a result of the foregoing, SVB was reasonably likely to require additional capital; and (4) that, as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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SOURCE Law Offices of Howard G. Smith
