Class action suit filed against Silicon Valley Bank parent
A class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO and its CFO, alleging that the company did not disclose the risks that future interest rate increases would have on its business. The lawsuit is seeking unspecified damages to be awarded to those who invested in SVB between June 16, 2021 and March 10, 2023. The collapse of Silicon Valley Bank has shaken the technology industry and worried small businesses and individuals with deposits at the financial institution.
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