Silvergate Securities Investigation

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.

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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