MOORE KUEHN ENCOURAGES INVESTORS OF SILVERGATE CAPITAL CORPORATION TO CONTACT LAW FIRM

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:

• Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE: SI)

** Only contact if shares purchased before November 9, 2021 

On November 15, 2022, Marcus Aurelius Research tweeted that "Recently 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 this news, the Company's stock price fell $6.13, or 17%, to close at $29.36 per share on November 15, 2022.

On November 17, 2022, The Bear Cave newsletter released an article about several companies with potential exposure to recently collapsed cryptocurrency exchange FTX, including Silvergate. The article highlighted the connection linking Silvergate to a money laundering operation that transferred $425 million off cryptocurrency trading platforms.

On this news, the Company's Class A common stock price fell $3.00, or 10.7%, to close at $24.90 per share on November 18, 2022, on unusually heavy trading volume.

The investigation concerns whether the company or its officers or directors made false and misleading statements throughout the Class Period. Specifically, whether the company or its officers or directors failed to disclose that: (1) the Company's platform lacked sufficient controls and procedures to detect instances of money laundering; (2) Silvergate's customers had engaged in money laundering in amounts exceeding $425 million; and (3) as a result of the foregoing, the Company was reasonably likely to receive regulatory scrutiny and face damages, including penalties and reputational harm.

If you still own Silvergate Ticker SI, please contact Fletcher Moore, Esq. by email at [email protected] or telephone at (212) 709-8245.

Attorney advertising. Prior results do not guarantee similar outcomes.

Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8^th Floor
New York, New York 10005
[email protected] 
(212) 709-8245

SOURCE Moore Kuehn, PLLC

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