Law Firm Pomerantz Files Class Action Against Silvergate Capital

Law firm Pomerantz has filed a class action lawsuit against Silvergate Capital, a provider of financial infrastructure solutions for digital assets, in the U.S. District Court for the Southern District of California, accusing it of making materially false or misleading statements and failing to disclose information about the company’s business, operations and prospects, including the failure to disclose to investors the lack of adequate controls and procedures to detect money laundering incidents, the involvement of Silvergate customers in money laundering activities amounting to more than $425 million, and the likelihood that Silvergate would be subject to regulatory scrutiny and damages.