It’s been more than seven months since the Federal Reserve shut down Silicon Valley Bank and orchestrated its sale to First Citizens Bank out of North Carolina. And since then, a small committee has been hard at work trying to uncover exactly what happened.
Long after the Federal Reserve published its initial report in April, detailing failures of senior management and SVB’s board of directors, a small committee that is representing shareholders of SVB’s former parent, SVB Financial Group, in its ongoing bankruptcy proceedings has for months been hunting down any records and communication from SVB executives, consultants, and vendors who may have relevant information, according to hundreds of bankruptcy documents filed this year and reviewed by Fortune.
