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Canadian Imperial Bank of Commerce has agreed to pay $2.4 billion to resolve investors' claims it helped hide losses at Enron Corp., marking the biggest individual settlement since the energy trader collapsed in a massive accounting fraud. The settlement announced Tuesday with the Toronto-based bank -- Canada's fifth-largest financial institution and the operator of the securities firm CIBC World Markets -- could help compensate investors who lost tens of billions of dollars when Enron failed in 2001.
August 03, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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