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FDIC sues 17 ex-SVB executives in alleged ‘gross negligence’ The Federal Deposit Insurance Corp has sued 17 former executives and board directors of Silicon Valley Bank for alleged negligence and breach of fiduciary duty, which led to the lender's collapse in March 2023 before the agency stepped in as its receiver The lawsuit, filed Thursday in a U S
FDIC sues 17 former Silicon Valley Bank executives over . . . The FDIC sued 17 former executives and directors of Silicon Valley Bank on Thursday, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty that caused
Feds sue SVB leaders for gross negligence over the banks . . . The Federal Deposit Insurance Corporation is suing 17 former executives at Silicon Valley Bank for presiding over the bank’s abrupt collapse, which ranks as the third largest bank failure in U S history
Memorandum and Resolution on Request for Authority to . . . - FDIC The FDIC Board of Directors is today considering a request for authority to sue six former officers and eleven former directors of Silicon Valley Bank (SVB or Bank) I support this request because it seeks to hold these former officers and directors accountable for their breaches of duty in mismanaging the Bank’s investment portfolios that exposed SVB to significant risks, caused SVB to
FDIC sues former SVB execs over bank closure | ABA Banking . . . The FDIC yesterday sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the collapse of the institution The agency is seeking to recover damages for the third-largest bank failure in U S history In a lawsuit filed in U S District Court for Northern California, the FDIC alleged SVB “represents a case of egregious mismanagement of interest
FDIC Files Liability Action Against Former SVB Executives The FDIC as receiver of the failed Silicon Valley Bank has filed a negligence and breach of fiduciary duty action against the bank’s former directors and officers The complaint alleges that it the FDIC’s lawsuit is “a case of egregious mismanagement of interest-rate and liquidity risks by the Bank’s former officers and directors ” The complaint seeks to recover the “billions of