U.S. Judge: KPMG and others must continue to defend themselves in the Silicon Valley Bank collapse case

The auditors of Silicon Valley Bank Financial Group, KPMG LLP, along with its underwriters and several former executives and directors, must continue to defend themselves in the proposed class action lawsuit against the bank's collapse. Judge Noël Wise stated on June 13 in the U.S. District Court for the Northern District of California that the claims against KPMG, underwriters including Goldman Sachs, and investors from other companies have sufficiently been made under the Securities Act and the Securities Exchange Act. Wise dismissed three separate motions to dismiss in the ruling