Losses & Lawsuits



The University of California announced on August 2 that it had agreed upon terms of a $2.4 billion settlement with Canadian Imperial Bank of Commerce (CIBC). The University is the lead plaintiff in a class of Enron shareholders who sued the failed energy concern's lead bankers for return of tens of billions of dollars in lost investments. The class of shareholders has previously settled with Lehman Brothers, Citibank and JP Morgan Chase.

A few days after the shareholder settlement, CIBC

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