Goldman Sachs Named As Defendant in SVB-Related Class Action Lawsuit

Reuters2023-05-04

Goldman Sachs is among the underwriters named as defendants in a securities class action lawsuit related to several of SVB Financial Group's share offerings in 2021 and 2022, the investment bank disclosed in a regulatory filing on Thursday.

The complaint asserts claims under the federal securities laws and alleges the offer documents contained material misstatements and omissions, the Wall Street giant said.

Goldman added the lawsuit, filed on April 7 in the U.S. District Court for the Northern District of California, seeks compensatory damages in unspecified amounts.

On March 17, SVB Financial Group filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.

Financial stocks have lost billions of dollars in value in the aftermath of the collapse of Silicon Valley Bank and Signature Bank and saw nervous depositors flee to larger 'too-big-to-fail' institutions with their capital.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

6

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2332168462?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2023-05-04 19:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2332168462","market":"us","top_or_hot":-1,"title":"Goldman Sachs Named As Defendant in SVB-Related Class Action Lawsuit","media":"Reuters","content":"<html><head></head><body><p>Goldman Sachs is among the underwriters named as defendants in a securities class action lawsuit related to several of <a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a>&#39;s share offerings in 2021 and 2022, the investment bank disclosed in a regulatory filing on Thursday.</p><p>The complaint asserts claims under the federal securities laws and alleges the offer documents contained material misstatements and omissions, the Wall Street giant said.</p><p>Goldman added the lawsuit, filed on April 7 in the U.S. District Court for the Northern District of California, seeks compensatory damages in unspecified amounts.</p><p>On March 17, <a href=\"https://laohu8.com/S/SIVPQ\">SVB Financial Group</a> filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.</p><p>Financial stocks have lost billions of dollars in value in the aftermath of the collapse of Silicon Valley Bank and <a href=\"https://laohu8.com/S/SBNYL\">Signature Bank</a> and saw nervous depositors flee to larger &#39;too-big-to-fail&#39; institutions with their capital.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs Named As Defendant in SVB-Related Class Action Lawsuit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs Named As Defendant in SVB-Related Class Action Lawsuit\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-05-04 19:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Goldman Sachs is among the underwriters named as defendants in a securities class action lawsuit related to several of <a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a>&#39;s share offerings in 2021 and 2022, the investment bank disclosed in a regulatory filing on Thursday.</p><p>The complaint asserts claims under the federal securities laws and alleges the offer documents contained material misstatements and omissions, the Wall Street giant said.</p><p>Goldman added the lawsuit, filed on April 7 in the U.S. District Court for the Northern District of California, seeks compensatory damages in unspecified amounts.</p><p>On March 17, <a href=\"https://laohu8.com/S/SIVPQ\">SVB Financial Group</a> filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.</p><p>Financial stocks have lost billions of dollars in value in the aftermath of the collapse of Silicon Valley Bank and <a href=\"https://laohu8.com/S/SBNYL\">Signature Bank</a> and saw nervous depositors flee to larger &#39;too-big-to-fail&#39; institutions with their capital.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"2332168462","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2332168462","pubTimestamp":1683200847,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Goldman Sachs is among the underwriters named as defendants in a securities class action lawsuit rel","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"高盛被列为SVB相关集体诉讼的被告","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GS":1,"SIVBO":0.9,"SIVBP":0.9,"SIVBQ":0.9},"content_text":"Goldman Sachs is among the underwriters named as defendants in a securities class action lawsuit related to several of SVB Financial Group's share offerings in 2021 and 2022, the investment bank disclosed in a regulatory filing on Thursday.The complaint asserts claims under the federal securities laws and alleges the offer documents contained material misstatements and omissions, the Wall Street giant said.Goldman added the lawsuit, filed on April 7 in the U.S. District Court for the Northern District of California, seeks compensatory damages in unspecified amounts.On March 17, SVB Financial Group filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.Financial stocks have lost billions of dollars in value in the aftermath of the collapse of Silicon Valley Bank and Signature Bank and saw nervous depositors flee to larger 'too-big-to-fail' institutions with their capital.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.32.1","shortVersion":"4.32.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2332168462"}