• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • CryptoSphere, Wrocław (February 4, 2023)
    • TMRW, Dubai (February 8-10, 2023)
    • European Blockchain Convention, Barcelona (February 15-17, 2023)
    • Blockchain Fest, Singapore (February 16-17, 2023)
    • Blockchain Economy Summit, London (February 27-28, 2023)
    • Paris Blockchain Week (March 20-24, 2023)
    • GAIN Expo, Amsterdam (May 4-5, 2023)
    • Blockchain Expo North America, Santa Clara (May 17-18, 2023)
    • COMEX, Oman (May 22-25, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
Visit Paris Blockchain Week on March 20-24, 2023
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Silvergate Capital (SI) Investors with $200K+ Losses to Contact Firm’s Attorneys, Securities Fraud Class Action Pending

January 9, 2023 By GlobeNewswire

SAN FRANCISCO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Silvergate Capital Corporation (NYSE: SI) investors who suffered significant losses to submit your losses now.

Class Period: Nov. 9, 2021 – Nov. 17, 2022
Lead Plaintiff Deadline: Feb. 6, 2023
Visit: www.hbsslaw.com/investor-fraud/SI
Contact An Attorney Now: SI@hbsslaw.com
844-916-0895

Silvergate Capital Corporation (NYSE: SI) Securities Class Action

The complaint alleges that Defendants misrepresented and failed to disclose to investors: (1) that Silvergate’s platform lacked sufficient controls and procedures to detect instances of money laundering; (2) that Silvergate’s customers engaged in money laundering in amounts exceeding $425 million; and (3) as a result, the company was reasonably likely to come under regulatory scrutiny and face damages, including penalties and reputational harm.

The truth began to emerge on Nov. 15, 2022, when analyst Marcus Aurelius Research highlighted the connection linking Silvergate to a money laundering operation that transferred $425 million off cryptocurrency trading platforms.

Then, on Nov. 17, 2022, analyst The Bear Cave released an article emphasizing Silvergate’s potential exposure to recently collapsed cryptocurrency exchange FTX.

The risks presented by Silvergate’s deficient controls and procedures have further materialized after the class period. Specifically, on Jan. 5, 2023 Silvergate reported that (1) its total deposits from digital asset customers as of Dec. 31, 2022 declined by a whopping $8.1 billion, or down 68%, from Sept. 30, 2022, (2) to maintain liquidity it sold $5.2 billion of debt securities at a loss of $718 million, and (3) it is firing 40% of its workforce.

In response to these events, the price of Silvergate shares has significantly declined.

“We’re focused on investors’ losses and whether Silvergate misled investors about the sufficiency of its controls to protect deposits from misappropriation,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Silvergate and have significant 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 Silvergate should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SI@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895


Filed Under: News Feed

Primary Sidebar

Follow Us

Press Releases

World Cup Inu (WCI) is now on Lbank Exchange, Enjin Coin (ENJ) launches latest wallet version, While Orbeon Protocol (ORBN) gives amazing return

February 2, 2023

Europe’s most influential blockchain & crypto event returns to Barcelona

February 1, 2023

METACO Harmonize Selected by DekaBank as Core Platform for Institutional Digital Asset Offering

February 1, 2023

Oasys to be Listed on Leading Japanese Crypto Exchange, bitbank

February 1, 2023

Cardano (ADA), Uniswap (UNI) and Orbeon Protocol (ORBN) Are the Top Cryptocurrencies Ready to Skyrocket

February 1, 2023

Cryptosphere

TMRW

EBC 2023

Blockchain Fest Singapore 2023

Blockchain Economy London 2023

PBW 2023

GAIN Expo 2023

Blockchain Expo North America 2023

COMEX 2023

Blockchain Expo Europe 2023

Blockchain Expo Global 2023

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter