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id: 746, Created by Stan Vick, Scout
Texas Capital Bancshares (TCBI) Securities Fraud Case Investigation
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On November 16, 2021, Bloomberg published an article detailing how Archegos built up a previously undisclosed position equal to 20% of Texas Capital prior to the margin calls that forced Archegos' liquidation. According to the article, Texas Capital was aware of the large position held by Archegos while it raised additional capital from investors in February 2021.
Earlier, on March 29, 2021, shares of $TCBI dropped 13% as prime brokers associated with the now-defunct family office, Archegos Capital Management, unwound large U.S. stock positions linked to the fund.
Taking all facts into account, Investors may have reasons to suspect that their rights could be grossly violated.
Failure to Disclose,
Shock Event Date
16 November 2021