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Securities

Mar. 3, 2025

Court rejects FDIC's full dismissal from in Silicon Valley Bank dispute

U.S. District Judge Beth Freeman in San Jose declined to fully dismiss SVB Financial Group's $1.93 billion turnover suit against the FDIC, keeping alive claims over blocked bridge bank funds.

A federal judge in San Jose declined to fully dismiss a $1.93 billion turnover lawsuit against the Federal Deposit Insurance Corporation by SVB Financial Group, the former parent company of the defunct Silicon Valley Bank, over claims the government illegally cut its access to "bridge bank" account funds after the bank went under and the FDIC took control.

SVB collapsed on March 9, 2023, after a historic $42 billion single-day bank implosion left the bank unable to give...

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