Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 09, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises SVB Financial Group (“SVB” or “the Company”) (NASDAQ: SIVB) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. SVB investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The inquiry centers around whether the Company provided inaccurate or incomplete statements, as well as omitted crucial details for investors. On March 8, 2023, SVB revealed its intention to secure over $2 billion in funds, comprising $500 million from General Atlantic, a private equity firm, and $1.75 billion via a public offering. Additionally, the Company stated that it would incur a $1.8 billion loss from the sale of $21 billion worth of securities. Following this announcement, SVB's shares plummeted by over 60% during afternoon trading on March 9, 2023.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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