Justice Department, SEC Investigating Silicon Valley Bank’s Collapse
Posted on AllSides March 14th, 2023
From The Center
The Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, according to people familiar with the matter, after the California lender was taken over by regulators last week amid a historic run on its deposits.
The separate probes are in their preliminary phases and may not lead to charges or allegations of wrongdoing. Prosecutors and regulators often open investigations after financial institutions or public companies suffer big, unexpected losses. Shares in SVB Financial Group SIVB -60.41%, which formerly owned the bank, fell 60%...
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