SVB Financial Group: Please contact the Portnoy Law Firm to recover your losses; May 12, 2023 deadline


Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, April 25, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises SVB Financial Group (“SVB” or the “Company”) investors that a lawsuit filed on behalf of investors that purchased LivePerson securities between November 5, 2020 and March 10, 2023, both dates inclusive (the “Class Period”).

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.

This is a class action lawsuit filed against SVB Financial Group, Gregory W. Becker, and Daniel J. Beck on behalf of all individuals who acquired or purchased SVB common stock between November 5, 2020, and March 10, 2023. The complaint alleges that SVB violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by misleading investors about the risks associated with its heavily concentrated investments in long-term, low-yield Treasuries and mortgage-backed securities. SVB's stock price plummeted by 60% after it sold its securities portfolio at a loss of $1.8 billion and announced a sale of $2.25 billion of common and preferred stock to cover the loss. The Federal Deposit Insurance Corporation took control of SVB's banking operations on March 10, 2023, and eventually sold all of SVB's deposits and loans to another bank. SVB's stock prices remain at less than 1% of their pre-collapse levels.

Please visit our website to review more information and submit your transaction information.

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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