Attorneys from Orrick, Herrington & Sutcliffe and Kramer Levin Naftalis & Frankel have stepped in to defend Daniel J. Beck and Greg W. Becker, CFO and CEO of Silicon Valley Bank, in a pending investor class action. The case, filed April 7 in California Northern District Court by Bernstein Litowitz Berger & Grossman, accuses the defendants of misrepresenting the strength of Silicon Valley Bank’s balance sheet and concealing substantial risks related to increasing interest rates. The case, assigned to U.S. District Judge Araceli Martinez-Olguin, is 3:23-cv-01697, City of Hialeah Employees Retirement System et al v. Becker et al.
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