Posted AT 12:58 PM EDT on 23/07/08
CIBC faces class-action lawsuit
TORONTO — A group of investors has become the first to launch a “multibillion-dollar” class-action lawsuit against the Canadian Imperial Bank of Commerce, alleging misrepresentations about the bank's exposure to the American subprime mortgage market.
The claim alleges that the bank misrepresented its total exposure to U.S.
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