NEW YORK, April 21, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of SVB Financial Group (OTC PINK: SIVBQ).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/svb-financial-class-action-submission-form/?id=38438&from=4
The lawsuit seeks to recover losses for shareholders who purchased SVB between June 16, 2021 and March 10, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 12, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, SVB Financial Group issued materially false and/or misleading statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law
