NEW
YORK, Feb. 3, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Silvergate Capital
Corporation (NYSE: SI).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/silvergate-capital-lawsuit-loss-submission-form/?id=36163&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Silvergate between November 11,
2020 and January 5, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
February 6, 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, Silvergate Capital Corporation
issued materially false and/or misleading statements and/or failed
to disclose that: (1) the Company's platform lacked sufficient
controls and procedures to detect instances of money laundering;
(2) Silvergate's customers had engaged in money laundering in
amounts exceeding $425 million; (3)
as a result of the foregoing, the Company was reasonably likely to
receive regulatory scrutiny and face damages, including penalties
and reputational harm; and (4) as a result of the foregoing,
defendant's positive statements about the Company's business,
operations, and prospects were materially misleading and/or lacked
a reasonable basis.
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: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law