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Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s):  CM | T.CM.PR.Q | T.CM.PR.P | T.CM.PR.S

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has over 14 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world. The Company has four strategic business units (SBUs): Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services. Its Canadian Personal and Business Banking provides personal and business clients across Canada with financial advice, services and solutions through banking centers, as well as mobile and online channels. Its Canadian Commercial Banking and Wealth Management provides relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.


TSX:CM - Post by User

Post by fakmizon Mar 30, 2020 3:12pm
161 Views
Post# 30861239

Class action suit regarding payment off overtime

Class action suit regarding payment off overtimeJust read an article on TSX Money that the Ontario Supreme Court has ruled against CIBC regarding the class action suit started approx. 10 years ago about the payment of overtime. Apparently affects approx. $31,000 present and past employees.  Decision regarding damatges/costs to be dealth with later.
Wonder what the Bank will do next; what the damages/costs will be and what affect this will have on the stock prices.  I appreciate that this is not the responsibilty of the current CEO but it's time the CIBC hired a CEO who has the best interest in the personnel and shareholders and not his bonus and renumeration.  Gone from tired with Royal Bank as number 1 in the mid 80's to number 5 of big Canadian Banks. Shows the incompetence of the past CEO's all of which left with big pensions and stock options. Greed, Gree, Greed!
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