LOS ANGELES, Dec. 22, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come February 6, 2023 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Silvergate Capital Corporation (“Silvergate” or the “Company”) S.I securities between November 9, 2021 and November 17, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Silvergate investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information to www.glancylaw.com/cases/silvergate-capital-corporation/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at shareholders@glancylaw.com to learn more about your rights.

On November 15, 2022, Marcus Aurelius Research tweeted, “Recently subpoenaed Silvergate bank records reveal $425 million in transfers from $SI crypto bank accounts to South American money launderers. Affadavit of investigating a crypto crime ring linked to smugglers/drug dealers.”

As a result of this news, the Company’s Class A common stock fell $6.13, or 17%, on unusually high trading volume to close at $29.36 per share on November 15, 2022.

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

As a result of this news, the Company’s Class A common stock fell $3.00, or 10.7%, to close at $24.90 per share on November 18, 2022 due to unusually high trading volume.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to…