GlobeNewswire

Silvergate Capital Investor Alert: Kaplan Fox Investigates Silvergate Capital

NEW YORK, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Silvergate Capital Corp. (“Silvergate” or “Company”) (NYSE: SI).

If you acquired Silvergate securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003 or our toll free number 1 (800) 290-1952.

On November 17, Bear Cave published an article entitled “The Great Crypto Collapse” discussing the exposures of Silvergate and other banks to the recent crypto collapse. Among other things, the article notes that Silvergate is mentioned in a forfeiture application connected to a money laundering operation, which allegedly states:

“Records produced by Silvergate Bank found: (i) During the period of September 2021 to June 2022 ten companies had transferred a total of over $425 million dollars off these cryptocurrency trading platforms into accounts held at different US banks, (ii) The accounts were receiving funds in the same pattern as those . . . used to facilitate the laundering of illicit funds.”

On November 17, 2022, Silvergate shares fell $3.44 per share, about 11%, to close at $27.90 per share.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com


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