NEW YORK, May 1, 2023 /PRNewswire/ -- Attention SVB Financial Group ("SVB") (OTC PINK: SIVBQ) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between November 5, 2020 and March 10, 2023.
If you suffered a loss on your investment in SVB, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/svb-financial-group-loss-submission-form?prid=38600&wire=4
ABOUT THE ACTION: The class action against SVB includes allegations that the Company made 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.
DEADLINE: May 12, 2023
Aggrieved SVB investors only have until May 12, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:https://www.prnewswire.com/news-releases/class-action-alert-the-law-offices-of-vincent-wong-remind-svb-investors-of-a-lead-plaintiff-deadline-of-may-12-2023-301811504.html
SOURCE The Law Offices of Vincent Wong
