KPMG LLP was sued as Silicon Valley Bank’s auditor, along with underwriters including Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley & Co. in an investor lawsuit based on alleged misstatements leading to the bank’s collapse.
Similar to previous suits, a complaint filed Friday in the federal court in San Francisco names Silicon Valley Bank Chief Executive Officer Greg Becker and other bank directors and officers as defendants. The complaint appears to be the first to target the bank’s auditors and underwriters.
Source: KPMG, Goldman Sachs, Morgan Stanley and Bank of America Sued Over SVB Failure – Bloomberg
