CIBC Takes a $2.4 Billion Enron Wallop
- Enron's Escalating Price Tag. O'Rourke, Morgan // Risk Management (00355593);Nov2005, Vol. 52 Issue 11, p8
The article reports on the settlements reached by investors and financial institutions involved in the bankruptcy of Enron as of November 2005. Many of the financial institutions named in the lawsuits related to the 2001 bankruptcy of Enron have been agreeing to increasingly large settlements to...
- CIBC Agrees to $80M Enron Fine. Paletta, Damian // American Banker;12/23/2003, Vol. 168 Issue 245, p20
The U.S. and Canadian regulators announced a settlement with Canadian Imperial Bank of Commerce (CIBC) over its role in Enron Corp.'s manipulation of financial statements as of December 23, 2003. Regulators alleged Toronto bank structured 34 complex finance transactions to look like asset sales,...
- CIBC to Pay $2.4B in Biggest Enron Pact. // American Banker;8/3/2005, Vol. 170 Issue 148, p20
Reports that Canadian Imperial Bank of Commerce (CIBC) agreed to pay investors $2.4 billion to resolve claims it helped Enron Corp. inflate revenue by hiding debt. How the fraud settlement was the largest stemming from Enron's 2001 collapse; Consideration of how CIBC will make the payment.
- Washington State Takes Lead in Enron Suit. Williams, Rochelle // Bond Buyer;4/11/2002, Vol. 340 Issue 31363, p2
Reports on the class action lawsuit filed by public bondholders against Enron Corp. in California. Allegations of selling company stock prior to filing for bankruptcy protection; Improper accounting and disclosure of information; Legal counsel representing investors.
- Verizon Wireless reaches settlement in consumer class-action lawsuit. Silva, Jeffrey // RCR Wireless News;3/19/2001, Vol. 20 Issue 12, p73
Reports on the settlement offered by Verizon Wireless to a consumer class lawsuit in the United States. Highlight of the case on the wireless industry's reliance on arbitration contracts; Terms of the proposed settlement; Charges of the case.
- Settling Red Star. // Traffic World;2/13/2006, Vol. 270 Issue 7, p37
The article reports on the approval of the U.S. District Court to a seven million dollars class-action settlement with trucking company USF over the closure of USF Red Star in May 2004 after a brief strike. The move impacted Teamster drivers and warehouse workers, leading to the federal lawsuit...
- After $190M settlement, Coke rep speaks to Black press. Muhammad, Simeon Booker // New York Amsterdam News;02/01/2001, Vol. 92 Issue 5, p3
Presents an interview with Cyrus Mehri, a lawyer in Washington. Involvement in the race bias settlements against Texaco Inc. and Coca Cola Co.; Importance of commitment and compassion; Concentration on class action lawsuits.
- Class Action Suits Are Graduating. Burns, Mairin // Investment Dealers' Digest;7/28/2003, Vol. 69 Issue 30, p7
Reports on the methods adopted by victims against individuals deemed responsible for the demise of such corporate giants as Enron Corp. and Adelphia Corp. Class action lawsuits filed by victims; Alternative route taken by victims for revenge; Motion filed by Adelphia and its bondholders.
- Class Action Suit Sets Minor Precedent. Hintze, John // Bank Loan Report;1/13/2003, Vol. 18 Issue 2, p1
Reports that a decision issued by a federal court in Houston, Texas to allow a class action suit against the Enron Corp. and several other firms that allegedly manipulated financial statements may set a minor precedent for defendants seeking to settle.