GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS ON BEHALF OF SVB FINANCIAL GROUP (NASDAQ: SIVB)
Grabar Law Office is investigating potential claims on behalf of SVB Financial Group (NASDAQ: SIVB) shareholders.
SVB Financial Group stock plunged 60% on March 9, 2023, and another 66% in pre-market trading on March 10, before trading was halted, after the parent of Silicon Valley Bank took investors by surprise by repositioning its balance sheet restructuring and lowering guidance as client cash burn continues amid slowing venture capital deployment.
After the close on March 7, SVB Financial announced that it sold all of its available for sale (AFS) securities portfolio, resulting in an after-tax loss of approximately $1.38 billion in Q1, and plans to offer $1.25 billion of stock and $500 million of preferred depositary shares in public offerings, in an effort to increase the company's liquidity. By the morning of March 10, it was reported that attempts by the bank to raise capital failed and the bank had hired advisors to explore a potential sale of the bank.
SVB Financial shareholders who would like to learn more about this matter are encouraged to contact us at firstname.lastname@example.org, or call Joshua Grabar at 267-507-6085.