NEW
YORK, March 24, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of SVB Financial Group (NASDAQ:
SIVB).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/svb-financial-class-action-submission-form/?id=37585&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
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law