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Norway Oil Fund Reaches $224.5 Million Settlement With KPMG Over Silicon Valley Bank Collapse

Summary by BizToc
Norges Bank Investment Management and co-lead plaintiff Sjunde AP-fonden, Sweden’s state pension fund, reached a $224.5 million settlement in principle.

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The Norwegian Oil Fund has reached a settlement with the auditing firm KPMG for nearly 2.1 billion kroner in a class action lawsuit against Silicon Valley Bank.

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The investor group led by the Oil Fund has secured a settlement after the second largest banking collapse in US history.

·Oslo, Norway
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– An important first step, says oil fund manager Nicolai Tangen.

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Reuters broke the news in London, United Kingdom on Friday, November 6, 2026.
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