SEC Sues Silvergate Capital For Alleged Securities Fraud In Wake Of FTX Collapse
Portfolio Pulse from Piero Cingari
The SEC has filed a lawsuit against Silvergate Capital Corp. (OTCPK: SICP) for alleged securities fraud related to the collapse of the cryptocurrency exchange FTX. The lawsuit claims that Silvergate and its former executives misled investors about their compliance programs, resulting in significant financial losses.
July 01, 2024 | 9:13 pm
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The SEC has filed a lawsuit against Silvergate Capital Corp. for alleged securities fraud related to the collapse of FTX. The lawsuit claims that Silvergate misled investors about its compliance programs, leading to significant financial losses.
The lawsuit by the SEC against Silvergate Capital for alleged securities fraud is likely to have a negative impact on the company's stock price. The allegations of misleading investors about compliance programs and the significant financial losses associated with the collapse of FTX are serious concerns for investors.
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