Corporate
Feb. 22, 2024
SVB Financial accused of lying to investors about finances
The complaint alleges that SVB Financial provided false and misleading statements in the offering materials given to Boston Private investors to entice them into trading their shares for SVB Financial stock.
A proposed class action accuses SVB Financial Group Inc., the former parent company of Silicon Valley Bank, of misrepresenting the company’s financial situation to investors following its $900 million purchase of Boston Private in July 2021.
According to the complaint filed Feb. 15 in Santa Clara County Superior Court, SVB Financial provided false and misleading statements in the offering materials given to Boston Private investors to enti...
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