Svb Financial Group (SIVBQ) has released an update to notify the public and investors about a regulation fd disclosure.
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SVB Financial Group filed for Chapter 11 bankruptcy on March 17, 2023, and is operating its businesses, including SVB Capital, under court jurisdiction. The company cautions against relying on its Monthly Operating Report for investment decisions as it hasn’t been audited or prepared according to standard accounting principles, and it’s not indicative of future results. The company has ceased filing quarterly reports post-March 2023 and will only file Current Reports on Form 8-K to disclose material events and financial information related to the bankruptcy case.
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For a comprehensive understanding of the announcement, you can read the full document here.