Silvergate Securities Investigation

12.12.2022

Girard Sharp is investigating potential claims for violation of federal securities laws on behalf of investors in Silvergate Capital Corporation.

If you purchased or acquired Silvergate stock between November 9, 2021 and November 17, 2022, you may have a claim. Fill out the form below for a free consultation with a Girard Sharp attorney.

Did You Purchase or Acquire Silvergate Stock?






More Details on the Silvergate Capital Investigation

Silvergate is a digital currency company that uses a platform called the Silvergate Exchange Network (“SEN”) to provide payments, lending, and funding solutions for digital currency companies and investors. Silvergate is also the parent company of Silvergate Bank.

On November 15, 2022, Marcus Aurelius Research tweeted that “[r]ecently subpoenaed Silvergate bank records reveal $425 million in transfers from $SI crypto bank accounts to South American money launderers. Affidavit from investigation into crypto crime ring linked to smugglers/drug traffickers.” On release of the news, Silvergate’s common stock price fell $6.13, or 17%, to close at $29.36 per share.

Subsequently, on November 17, 2022, The Bear Cave released an article about several companies, including Silvergate, with potential exposure related to the FTX cryptocurrency exchange that collapsed. The article noted a link between Silvergate and a money laundering operation that transferred $425 million off cryptocurrency trading platforms. On this news, the company’s stock price further declined by $3.00, or 10.7%, to close at $24.90 per share on November 18, 2022.

If you purchased or acquired Silvergate securities between November 9, 2021 and November 17, 2022, you may have a claim. Call us toll-free at (866) 981-4800 or submit your information using the form above for a free consultation with a Girard Sharp attorney.

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Girard Sharp LLP represents investors, consumers, and institutions in class actions and other complex litigation nationwide. Our class action attorneys have obtained multimillion-dollar recoveries for victims of unfair and deceptive practices in antitrust, financial fraud, and consumer protection matters against some of the country’s largest corporations.

We served on the leadership team in the securities litigation following the collapse of Lehman Brothers, the largest bankruptcy in U.S. history, in which total recoveries for investors exceeded $700 million. We also serve on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that the district court preliminarily approved in December 2021. When Sallie Mae, the leading provider of student loans in the United States, misled the public about its financial performance to inflate the company’s stock price, we recovered $35 million for investors in the company. Read more about our securities and investment cases here.

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