Canadian Imperial Bank of Commerce T.CM

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

Financial Services Banks - Global

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.

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Canadian Imperial Bank of Commerce

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Comment by rjc7on May 25, 2020 4:53pm

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Post# 31070509

RE:RE:Is this MATERIAL news that MUST be reported to shareholders.

Agree the settlement wouldn't be $5Billion as much of that are punitive damages. However the Judgement if unsuccessful on Appeal (which I don't believe will be sought); the damages will be significant based on 16 years x virtually every employee plus interest. Not to mention there would be Punitive damages awarded to some degree. We shall see. I'm just surprised that this didn't show up as significant enough as to require a material new release event to shareholders. It is buried in their last MD&A so it is material.

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