Judge Rules Against Bank’s Trust | Spokane News

A judge just nixed a $1.71 billion lawsuit from the former parent of Silicon Valley Bank, ruling that a trust overseeing the claim must shoulder blame for executives’ risky moves—loading up on bonds and mortgage-backed securities that collapsed as rates rose. The fallout triggered a bank run, devastated tech startups reliant on SVB, and sparked the collapses of Signature and First Republic banks. The court found CFOs, treasurers, and directors negligent for approving reckless bets, rejecting defenses that blamed FDIC asset sales. With a 12-day trial behind it, the case isn’t done—the FDIC is still suing 17 ex-executives, including the CEO, seeking billions in damages over alleged gross negligence. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a57e61fa30871806