The investigations are also examining stock sales that SVB Financial’s executives made days before the bank failed, the report said.
stock sales
that SVB Financial’s executives made days before the bank failed, the report said, adding that the Justice Department’s probe involves the department’s fraud prosecutors in Washington and San Francisco. The SEC and a spokesperson for the Justice Department in Washington declined to comment. SVB did not immediately respond to a Reuters request for comment.sued by shareholders
, who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit susceptible to a bank run. The Journal report comes a day after SVB Financial Group and two top executives were sued by shareholders.
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