SAN DIEGO, March 19, 2023 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all individuals and entities that purchased or otherwise acquired SVB Financial Group SIVB securities between June 16, 2021 and March 10, 2023 for violating the Securities Exchange Act of 1934. SVB purports to be “a diversified financial services company, as well as a bank holding company and a financial holding company”.

What now: Shareholders in a similar situation may be entitled to participate in the class action lawsuit against SVB. Shareholders who wish to be lead plaintiffs in the class action must file their filings by May 8, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information Here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: SVB Financial Group (SIVB) did not tell investors that rising interest rates would negatively impact their business prospects.

According to the lawsuit, the defendants failed to disclose during the class period: (1) the risks posed by upcoming increases in interest rates; (2) that in a high-interest-rate environment, it would be worse off than banks that don’t care about tech startups and venture capital-backed companies; and (3) that it was particularly vulnerable to bank runs when its investments were adversely affected by rising interest rates.

On March 8, 2023, the Company announced a stock offering and the completion of an agreement with an equity investor to purchase $500 million in a separate private transaction. As a result of this news, the company’s stock lost more than half of its value from a closing price of $267.83 per share on March 8, 2023 to $106.04 per share on March 9, 2023. On March 9, 2023, several news outlets speculated about the decline of the stock ,…