Cerebrus Settled $770m USDCIBC recorded a pre-tax provision of CAD$1,169 million in its first quarter 2023 results to be released on February 24, 2023, representing damages and pre-judgment interest totaling US$855 million through January 31, 2023. The US$85 million difference between the amount recorded in the first quarter 2023 results and the settlement amount will be reflected in CIBC's second quarter results.
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Let's see the market response on the 24th.