
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 dollars in damages caused by the negligence, gross negligence, and breaches of fiduciary duty.” A copy of the FDIC’s complaint can be found here.Continue Reading FDIC Files Liability Action Against Former SVB Executives