Girard Sharp LLP, a national investment, securities, and consumer class action and complex litigation firm, announces that it 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, contact Girard Sharp to discuss your legal options.

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 securites, click here to contact Girard Sharp about your potential claim.

We also encourage you to contact Adam Polk of Girard Sharp LLP, 601 California Street, Suite 1400, San Francisco, CA 94108, at (866) 981-4800, to discuss your rights free of charge. You can also reach us through the firm’s website at www.girardsharp.com, or by email at apolk@girardsharp.com.

Girard Sharp represents investors, consumers, and institutions in class actions and other complex litigation nationwide. We served as co-lead counsel in a certified class action arising out of the collapse of Lehman Brothers Holdings, Inc. in the largest bankruptcy in American history, obtaining a $120 million fund from UBS Financial Services. We also led the successful litigation that followed the collapse of Peregrine Financial Group and obtained favorable recoveries for investors in the Provident Royalties and Medical Capital investment schemes. More recently, we led the Woodbridge Investments Litigation against Comerica Bank, securing a $54 million settlement in coordination with the bankruptcy trustee. We also served on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that received final court approval in July 2022.

Our 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, including Raymond James, John Hancock, and Sears. Girard Sharp has earned top-tier rankings from U.S. News and World Report for Securities and Class Action Litigation and has been repeatedly selected as an Elite Trial Lawyers finalist by the National Law Journal.

This press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005825/en/