<p>The parent of Silicon Valley Bank, seized last week by the US, is filing for Chapter 11 bankruptcy protection.</p>.<p>SVB Financial Group, along with its CEO and its chief financial officer, were targeted this week in a class action lawsuit that claims the company didn't disclose the risks that future interest rate increases would have on its business.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/nazara-tech-pulls-out-rs-60-cr-from-crisis-hit-svb-1200459.html" target="_blank">Nazara Tech pulls out Rs 60 cr from crisis-hit SVB</a></strong></p>.<p>SVB Financial Group is no longer affiliated with Silicon Valley Bank after its seizure by the Federal Deposit Insurance Corp.</p>.<p>The bank's successor, Silicon Valley Bridge Bank, is being run under the jurisdiction of the FDIC and is not included in the Chapter 11 filing.</p>.<p>SVB Financial Group believes it has approximately $2.2 billion of liquidity. </p>
<p>The parent of Silicon Valley Bank, seized last week by the US, is filing for Chapter 11 bankruptcy protection.</p>.<p>SVB Financial Group, along with its CEO and its chief financial officer, were targeted this week in a class action lawsuit that claims the company didn't disclose the risks that future interest rate increases would have on its business.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/nazara-tech-pulls-out-rs-60-cr-from-crisis-hit-svb-1200459.html" target="_blank">Nazara Tech pulls out Rs 60 cr from crisis-hit SVB</a></strong></p>.<p>SVB Financial Group is no longer affiliated with Silicon Valley Bank after its seizure by the Federal Deposit Insurance Corp.</p>.<p>The bank's successor, Silicon Valley Bridge Bank, is being run under the jurisdiction of the FDIC and is not included in the Chapter 11 filing.</p>.<p>SVB Financial Group believes it has approximately $2.2 billion of liquidity. </p>