https://apnews.com/article/svb-silicon-valley-bankruptcy-2989c84b03a0f26ed4302d748fc5f39c

The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection.

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.