Enron Corp. said Friday it had reached agreement with Canadian Imperial Bank of Commerce (CIBC) to settle CIBC’s portion of the Enron MegaClaims litigation. CIBC’s settlement with Enron follows one by the bank earlier in the week, when it agreed to pay $2.4 billion to settle the largest class action lawsuit to date to settle fraud claims by investors (see Daily GPI, Aug. 3).
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CIBC Proposes $2.4B to Settle Enron Fraud Claims
In the largest class action settlement to date in the ongoing Enron Corp. bankruptcy, the Toronto-based Canadian Imperial Bank of Commerce (CIBC) proposed Tuesday to pay $2.4 billion to settle fraud claims by investors.
Former CIBC Director Settles SEC Charges Related to Enron
A former managing director with Canadian Imperial Bank of Commerce (CIBC) agreed last week to pay US$528,750 to settle charges brought by the Securities and Exchange Commission (SEC) last year in connection with Enron Corp.
Former CIBC Director Settles SEC Charges Related to Enron
A former managing director with Canadian Imperial Bank of Commerce (CIBC) agreed Tuesday to pay US$528,750 to settle charges brought by the Securities and Exchange Commission (SEC) last year in connection with Enron Corp.