INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Silvergate Capital Corporation (SI) on Behalf of Investors

Law Offices of Howard G. Smith announces an investigation on behalf of Silvergate Capital Corporation (Silvergate or the Company) (NYSE: SI ) investors concerning the Companys possible violations of federal securities laws.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, November 29, 2022
Information
Tags: 
Class Action Lawsuit, Professional Services, Legal, Telephone, Bears' Cave, Risk, The Wall Street Journal, Suite, FTX, News, NYSE, Bear's Cave (Erpfingen), Silvergate Media, Cryptocurrency
Geotags: 
PENNSYLVANIA, UNITED STATES, NORTH AMERICA
Stock Symbol: 
NYSE:SI
Summary
Key Points: 
  • Law Offices of Howard G. Smith announces an investigation on behalf of Silvergate Capital Corporation (Silvergate or the Company) (NYSE: SI ) investors concerning the Companys possible violations of federal securities laws.
  • On November 17, 2022, The Bear Cave newsletter released an article about several companies with potential exposures to recently collapsed cryptocurrency exchange FTX, including Silvergate.
  • The article highlighted a connection linking Silvergate to a money laundering operation that transferred $425 million off cryptocurrency trading platforms.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


Law Offices of Howard G. Smith announces an investigation on behalf of Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE: SI) investors concerning the Company’s possible violations of federal securities laws.

On November 17, 2022, The Bear Cave newsletter released an article about several companies with potential exposures to recently collapsed cryptocurrency exchange FTX, including Silvergate. The article highlighted a connection linking Silvergate to a money laundering operation that transferred $425 million off cryptocurrency trading platforms.

On this news, Silvergate’s stock price fell $3.00 per share, or 10%, on November 18, 2022 to close at $24.90 per share.

On November 20, 2022, The Wall Street Journal published an article entitled “Crypto Bank Silvergate Battles FTX Contagion Fears: The collapse of Sam Bankman-Fried’s empire has sparked investor fears about banks that courted crypto companies” which, among other things, stated “[o]n Friday, crypto-trading platform FalconX told its customers it was no longer using Silvergate. FalconX said the elevated risk in the crypto market required extra caution and told customers its decision was ‘consistent with other market players.’”

If you purchased Silvergate securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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