ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.
The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Silvergate Capital Corporation (“Silvergate” or “the Company”) (NYSE: SI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 9, 2021 and November 17, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before February 6, 2023.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Silvergate failed to maintain necessary controls to detect money laundering. The Company’s customers used its platform to engage in money laundering of at least $425 million. The Company was likely to face regulatory scrutiny over its business practices. Based on these facts the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Silvergate, investors suffered damages.
