SAN FRANCISCO, Dec. 22, 2022 (GLOBE NEWSWIRE) — Hagens Berman Urges Silvergate Capital Corporation S.I Investors who have suffered significant losses Submit your losses now.

school lesson: Nov 9, 2021 – Nov 17, 2022
Deadline for lead plaintiff: February 6, 2023
Visit: www.hbsslaw.com/investor-fraud/SI
Contact a lawyer now: SI@hbsslaw.com
844-916-0895

Silvergate Capital Corporation S.I Securities Class Action

The Complaint alleges that the Defendants misrepresented and failed to disclose to investors: (1) that Silvergate’s platform lacked adequate controls and procedures to detect money laundering; (2) that Silvergate’s customers were involved in money laundering in excess of US$425 million; and (3) as a result, the company was likely to be subject to regulatory scrutiny and would suffer damages, including penalties and reputational damage.

The truth began to emerge on November 15, 2022, as an analyst Marcus Aurelius research highlighted the connection linking Silvergate to a money laundering operation that transferred $425 million from cryptocurrency trading platforms.

Then, on November 17, 2022, Analyst The Bear Cave published an article highlighting Silvergate’s potential exposure to recently collapsed cryptocurrency exchange FTX.

In response to these events, Silvergate’s share price has fallen significantly.

“We are focused on investor losses and whether Silvergate misled investors about the adequacy of its controls to protect depositors from embezzlement,” said Reed Kathrein, the partner at Hagens Berman who led the investigation .

If you have invested in Silvergate and suffer significant losses or have knowledge that may assist the firm’s investigations, Click here to discuss your legal rights with Hagens Berman.

Whistleblower: Those with nonpublic information about Silvergate should consider their ability to assist in the investigation or use the SEC’s whistleblower program. Under the new program, whistleblowers who disclose original information can…