Shareholders file lawsuit against Silicon Valley Bank, alleging fraud: Report By Cointelegraph
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A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis.
Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders alleged fraud from the bank, CEO Greg Becker and chief financial officer Daniel Beck. The lawsuit would likely be one of the first filed in court since California regulators shut down the bank on March 10, leading to (USDC) temporarily depegging from the dollar amid reports Circle had more than $3 billion of the stablecoin’s reserves at the financial institution.
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A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis.
Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders alleged fraud from the bank, CEO Greg Becker and chief financial officer Daniel Beck. The lawsuit would likely be one of the first filed in court since California regulators shut down the bank on March 10, leading to (USDC) temporarily depegging from the dollar amid reports Circle had more than $3 billion of the stablecoin’s reserves at the financial institution.
Continue Reading on Coin Telegraph
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