SEC and DOJ Investigate Silicon Valley Banks, SIVB, Collapse

Per the WSJ: https://www.wsj.com/articles/justice-department-sec-investigating-silicon-valley-banks-collapse-c192c2b2

The US Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank (SVB), after it was taken over by regulators last week. The investigations are in their preliminary phases and are looking into potential stock sales by SVB's officers in the days leading up to the bank's failure. The probes may not lead to any charges or allegations of wrongdoing. SVB Financial Group, which formerly owned the bank, saw a 60% drop in its shares last week. The company's CEO and CFO have not commented on the investigations.

The CEO and and CFO disclosed numerous trades just weeks before the banks' collapse, as seen here https://twitter.com/unusual_whales/status/1634555021487480834