The March 2023 collapse of Silicon Valley Bank (SVB) is long enough ago that it in many ways seems like ancient history. The fact is that the bank’s failure was the second largest in U.S. history, and its collapse continues to cast a shadow over the U.S. banking industry. Private civil litigation against company executives, on behalf of investors and others, followed immediately in the wake of the bank’s collapse, but at least until now the post-collapse lawsuits have not included an action by the FDIC, as often follows after a bank failure. However, as discussed below, on December 17, 2024, the FDIC’s Board of Directors voted unanimously to authorize the agency staff’s request for authorization to file a suit against six former officers and 11 former directors of SVB and its holding company, SVB Financial Group.Continue Reading FDIC Board of Directors Authorizes Suit Against SVB Officials