Jun. 23 at 2:28 AM
$SICP Yes, 'thanks' to Silvergate's former incompetent and evil crooks (BoD and C-Suite), the company was kicked out of NYSE. I despise all of them for the damages and the billions of dollars of losses they caused the company and its common shareholders. And for filing for chapter 11 on 09/17/24, literally a few days (!) before the court-ordered 2024 shareholder meeting on 09/27/24, even though the company was more than solvent. Their main goal was to get rid of the commons, give everything to the preferreds and in return get away with their crimes/frauds.
Unfortunately, reorganized Silvergate must now clean up the mess and (among many other things) spend extra hours and days to produce and (re)submit the financials/numbers from 2025 far more detailed than expected. And producing these financials/numbers takes longer than originally planned. That's all there is. Somewhat disappointing, but reorganized Silvergate's new leadership is on top of it. That's reassuring.