Signature Bank Sued by Shareholders for Fraud
The year 2023 has witnessed back-to-back bank collapses recently. From the collapses of Silvergate Bank, Silicon Valley Bank, and the recent Signature Bank, cryptocurrency-friendly banks have been going down one by one. Also read: Ethereum — 1,000 Holders Join Hands in a Security Class Action Against NYAG After the recent closure of Silvergate Bank, one of the board members also addressed the fact that the bank’s closure is a strong anti-crypto message. According to the latest report, Signature Bank and three former executives of the bank were sued on Tuesday. JUST IN: Signature Bank $SBNY sued by share holders for fraud. — Watcher.Guru (@WatcherGuru) March 14, 2023 Shareholders accused Signature Bank of fraud The share holders accused the bank and the executives of fraud, stating that the bank was strong financially three days prior to the seizure. The class action lawsuit is filed against the bank, former CEO Joseph DePaolo, CFO Stephen Wyremski, and COO E...