Canadian Imperial Bank of Commerce Lawsuit

CIBC

Canadian Imperial Bank of Commerce CIBC Securities Stock Fraud

Company:	Canadian Imperial Bank of Commerce
Ticker Symbol:	CIBC
Class Period:	May-31-07 to May-28-08
Date Filed:	Sep-19-08
Lead Plaintiff Deadline:	Nov-18-08
Court:	Southern District of New York
Allegations:

A class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of all purchasers of the securities of Canadian Imperial Bank of Commerce on the New York Stock Exchange ("NYSE"), and all U.S. purchasers of the securities of CIBC between May 31, 2007 and May 28, 2008, inclusive. The lawsuit was filed against CIBC and certain officers and directors ("Defendants").

This action seeks to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). The action alleges that Defendants misled investors by falsely representing that CIBC's exposure to subprime CDOs was not a major risk issue and failing to accurately describe its total exposure to the U.S. subprime mortgage market. Such reassurances were repeated by Defendants throughout the Class Period in order to artificially support CIBC's stock price in the midst of a weakening subprime mortgage market. Additional disclosures through the end of the Class Period revealed the full extent of CIBC's exposure to toxic subprime mortgage-backed securities, causing the Company's stock to plummet to $63.93 per share on June 6, 2008 after the final curative disclosure on May 29, 2008 was digested by the market -- a drop of more than 40% from CIBC's Class Period high.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Canadian Imperial Bank of Commerce CIBC Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Canadian Imperial Bank of Commerce securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation. Related Law Suits

Canadian Imperial Bank of Commerce Law Suit and Settlement

Bank of America, Merrill Lynch Law Suit and Settlement

Merrill Lynch and Bank of America Law Suit and Settlement

Bank of America Settles Merrill Lynch Class Action for $150 Million Law Suit and Settlement

Opnext, Inc. Law Suit and Settlement

EnerNOC, Inc. Law Suit and Settlement

Fifth Third Bancorp Law Suit and Settlement

MRV Communications, Inc. Law Suit and Settlement

Carter’s Inc. Law Suit and Settlement

Anadigics, Inc Law Suit and Settlement

See more stories from this source.

Class Action Law Suits

Newsworthy Law Suits
Defective Products Lawsuits
Discrimination Lawsuits
Drug & Medical Claims Lawsuits
Food & Dietary Supplement Lawsuits
Insurance Lawsuits
Malpractice Lawsuits
Personal Injury Lawsuits
Real Estate Lawsuits
Investment Fraud Lawsuits

is===1 Lawyers! Become an Approved Expert to Answer Questions.

Apply Now!
You'll get lots of targetted traffic to your website and new client leads!