Levi & Korsinsky, LLP announces that a SI class action lawsuit has been filed on behalf of investors who purchased Silvergate Capital Corporation (SI) securities between November 9, 2021 and January 5, 2023. For more on the SI Lawsuit please contact us today.
According to the Silvergate Capital Corporation lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) the Company’s platform lacked sufficient controls and procedures to detect instances of money laundering; (2) Silvergate’s customers had engaged in money laundering in amounts exceeding $425 million; (3) as a result of the foregoing, the Company was reasonably likely to receive regulatory scrutiny and face damages, including penalties and reputational harm; and (4) 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.
If you suffered a loss in Silvergate Capital Corporation you have until February 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.