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Pension Funds Sue Silicon Valley Bank's Officers, Auditor KPMG Following Bank Failure
Chief Investment Officer [CIO] 
Apr. 11, 2023 "Three pension funds have filed a class action lawsuit against officers and directors from Silicon Valley Bank's parent company, SVB Financial Group, and its auditor, KPMG LLP, for allegedly misrepresenting the strength of the company's balance sheet, liquidity and position in the market. SVB Financial Group and subsidiary SVB Securities were not named in the suit due to their ongoing bankruptcy proceedings.' [City of Hialeah Employees" Retirement System v. Becker, No. 23-1697 (N.D. Calif. complaint filed Apr. 7, 2023)] |
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