Silicon Valley Bank

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of First Republic Bank - FRC

Retrieved on: 
Friday, May 5, 2023

NEW YORK, May 05, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of First Republic Bank (“First Republic” or the “Company”) (NYSE: FRC).

Key Points: 
  • NEW YORK, May 05, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of First Republic Bank (“First Republic” or the “Company”) (NYSE: FRC).
  • The investigation concerns whether First Republic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • On March 13, 2023, following the collapse of Silicon Valley Bank, Silvergate Bank, and Signature Bank, First Republic led a wave of declining bank share prices, based on liquidity concerns.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Signature Bank of Class Action Lawsuit and Upcoming Deadline – SBNY; SBNYP

Retrieved on: 
Friday, May 5, 2023

NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Signature Bank (“Signature Bank” or the “Bank”) (NASDAQ: SBNY; SBNYP), and certain officers.

Key Points: 
  • NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Signature Bank (“Signature Bank” or the “Bank”) (NASDAQ: SBNY; SBNYP), and certain officers.
  • The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Bank’s business, operations, and prospects.
  • As it established itself, Signature Bank cultivated a reputation of working with wealthy clients, including privately owned businesses, law offices, and real estate buyers.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

First Republic Bank (FRC) Class Action Alert: Robbins LLP Reminds Investors of Lead Plaintiff Deadline in First Republic Bank Securities Class Action

Retrieved on: 
Thursday, May 4, 2023

Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired First Republic Bank (NYSE: FRC) securities between January 14, 2021 and March 14, 2023.

Key Points: 
  • Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired First Republic Bank (NYSE: FRC) securities between January 14, 2021 and March 14, 2023.
  • First Republic is a California state-chartered bank and trust company that provides private banking, private business banking, and private wealth management.
  • Shareholders who want to act as lead plaintiff for the class must file their papers by June 23, 2023.
  • A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages SVB Financial Group (SIVB, SIVBQ) Investors with Substantial Losses to Contact Firm’s Attorneys Before May 12th Deadline in Securities Fraud Class Action

Retrieved on: 
Thursday, May 4, 2023

SAN FRANCISCO, May 04, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges SVB Financial Group (NASDAQ: SIVB) (OTC: SIVBQ) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, May 04, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges SVB Financial Group (NASDAQ: SIVB) (OTC: SIVBQ) investors who suffered substantial losses to submit your losses now .
  • Investors began to learn the truth on Mar.
  • If you invested in SVB and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman .
  • Whistleblowers: Persons with non-public information regarding SVB should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.

Sunlight Financial Reports Fourth Quarter and Full-Year 2022 Results

Retrieved on: 
Thursday, May 4, 2023

Sunlight Financial Holdings Inc. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale finance company, today announced its results for the fourth quarter and full-year 2022.

Key Points: 
  • Sunlight Financial Holdings Inc. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale finance company, today announced its results for the fourth quarter and full-year 2022.
  • Right-Size Expense Base: Since the fourth quarter of 2022, Sunlight has been implementing expense reduction actions to save on costs related to vendors, technology, and compensation.
  • Reduce Contractor Advance Program: In the fourth quarter of 2022, Sunlight re-underwrote all advance program partners and tightened advance criteria.
  • Sunlight will host a conference call and webcast to discuss its fourth quarter and full-year 2022 financial and operational results and business outlook at 5:30 PM ET today, May 4, 2023.

Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic

Retrieved on: 
Thursday, May 4, 2023

Unlike traditional bank runs, which conjure up images of people queuing outside a branch to withdraw their money in person, digital bank runs snowball even faster due to social media chatter.

Key Points: 
  • Unlike traditional bank runs, which conjure up images of people queuing outside a branch to withdraw their money in person, digital bank runs snowball even faster due to social media chatter.
  • Digital bank runs are the new threat to financial stability that keeps regulators and investors awake at night.
  • The Silicon Valley Bank crisis showed how the perils of fractional banking can be compounded by social media.
  • Read more:
    Twitter played a role in the collapse of Silicon Valley Bank – new research

Avoiding a bank run

    • To avoid the kind of contagion that leads to digital bank runs, bank management, investors and regulators need to be careful about what they say.
    • Even if they aren’t posting on social media, investors and other interested parties are, and their discussions can impact sentiment about a bank.
    • The failure of Credit Suisse was arguably kicked off by an ill thought-out comment by the chair of a major investor in the bank, Ammar Al Khudairy of Saudi National Bank.
    • Communication – or a lack of it – was also associated with the more recent share price drop and loss of confidence in First Republic Bank.
    • Germany’s chancellor Olaf Scholz publicly dismissed any comparison between Deutsche and the failed Swiss bank, which seemed to reassure markets.

CREDIT CRUNCH: Small Business Owners Worry About Accessing Capital as Washington Scrambles to Avert Default on National Debt

Retrieved on: 
Thursday, May 4, 2023

This jarring turnaround is just one key takeaway from a new survey of small business owners from Goldman Sachs 10,000 Small Business Voices released during National Small Business Week.

Key Points: 
  • This jarring turnaround is just one key takeaway from a new survey of small business owners from Goldman Sachs 10,000 Small Business Voices released during National Small Business Week.
  • Of respondents who have applied for a small business loan in the past three months (17%), 61% have found it difficult to access affordable capital.
  • Other notable data points from the survey of small business owners include:
    Seventy-one percent said inflationary pressures on their small business have increased over the past three months.
  • The survey included small business owners from 48 U.S. states, Washington, D.C., and Puerto Rico.

Silicon Valley Venture Capitalists' Confidence Rises in 2023 Despite Concerns about Banking and Other Regional Issues, New University of San Francisco Research Finds

Retrieved on: 
Thursday, May 4, 2023

SAN FRANCISCO, May 4, 2023 /PRNewswire-PRWeb/ -- The Silicon Valley Venture Capitalist Confidence Index™ for the first quarter of 2023, based on a March 2023 survey of 36 San Francisco Bay Area venture capitalists, registered 3.40 on a 5-point scale (with 5 indicating high confidence and 1 indicating low confidence). The Q1 2023 Index rose from the prior quarter's reading of 3.25 but is still below the 19+ year average of 3.65.

Key Points: 
  • The Silicon Valley Venture Capitalist Confidence Index™ for the first quarter of 2023, based on a March 2023 survey of 36 San Francisco Bay Area venture capitalists, registered 3.40 on a 5-point scale (with 5 indicating high confidence and 1 indicating low confidence).
  • SAN FRANCISCO, May 4, 2023 /PRNewswire-PRWeb/ -- The Silicon Valley Venture Capitalist Confidence Index™ for the first quarter of 2023, based on a March 2023 survey of 36 San Francisco Bay Area venture capitalists, registered 3.40 on a 5-point scale (with 5 indicating high confidence and 1 indicating low confidence).
  • The Q1 2023 Index rose from the prior quarter's reading of 3.25 but is still below the 19+ year average of 3.65.
  • Mark Cannice, professor of entrepreneurship and innovation with the University of San Francisco School of Management, authors the research study each quarter.

Fintech Startup Setscale Launches to Help Small Businesses Fund Purchase Orders with a $9.5M Seed Round, Secures up to $70M in Debt Financing

Retrieved on: 
Thursday, May 4, 2023

NEW YORK, May 4, 2023 /PRNewswire/ -- Setscale, a fintech startup revolutionizing purchase order financing for SMBs, today announced it has raised a $9.5M seed funding round, as well as secured up to $70M in debt.

Key Points: 
  • SMBs use Setscale independently or in partnership with existing capital to fund their inventory and purchase orders.
  • With this new endeavor, the Setscale team aims to mitigate this issue for SMBs by providing alternative financing options that enable them to scale.
  • Rather than relying on traditional and legacy institutions, SMBs can use Setscale independently or in partnership with existing capital to fund their inventory and purchase orders.
  • "Setscale's innovative approach to purchase order financing is exactly the type of B2B fintech Fin Capital is excited about, bringing scalability to businesses."

Greystone Housing Impact Investors Reports First Quarter 2023 Financial Results

Retrieved on: 
Thursday, May 4, 2023

OMAHA, Neb., May 04, 2023 (GLOBE NEWSWIRE) -- On May 4, 2023, Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced financial results for the three months ended March 31, 2023.

Key Points: 
  • OMAHA, Neb., May 04, 2023 (GLOBE NEWSWIRE) -- On May 4, 2023, Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced financial results for the three months ended March 31, 2023.
  • The distribution was paid on April 28, 2023, to BUC holders of record as of the close of trading on March 31, 2023.
  • “Our first quarter results continue to demonstrate strong returns from the execution of our strategies,” said Kenneth C. Rogozinski, the Partnership’s Chief Executive Officer.
  • The Partnership will host a conference call for investors on Thursday, May 4, 2023 at 4:30 p.m. Eastern Time to discuss the Partnership’s First Quarter 2023 results.