SAN DIEGO, Dec. 13, 2022 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all investors who have purchased or otherwise acquired Silvergate Capital Corporation S.I Securities between November 9, 2021 and November 17, 2022 for violating the Securities Exchange Act of 1934. Silvergate is a digital currency company. Its platform, the Silvergate Exchange Network (“SEN”), provides payment, lending and financing solutions to a growing class of digital currency businesses and investors. Silvergate is also the parent company of Silvergate Bank, which provides financial services including commercial banking, commercial and residential real estate lending, mortgage inventory lending and commercial business lending.

What now: Shareholders in a similar position may be eligible to participate in the class action lawsuit against Silvergate. Shareholders who wish to be lead plaintiffs in the class action must file their filings by February 6, 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: Silvergate Capital Corporation (SI) made false and misleading statements about its business prospects

According to the complaint, Marcus Aurelius Research tweeted on November 15, 2022 that “Recently subpoenaed Silvergate bank records reveal $425 million in transfers from $SI crypto bank accounts to South American money launderers. Drug dealers.” As a result of this news, the Company’s Class A common stock fell $6.13, or 17%, to close at $29.36 per share on November 15, 2022.

Then, on November 17, 2022, The Bear Cave newsletter ran an article about several companies with…