CIBC Class Action

[Weekly]

http://www.sirf.proboards49.com/index.cgi?board=title5&action=display&thread=1123039565

 

[thenameless]

proving once again, lawyers come up with some idiotic things... the share price falls because of the settlement with the us regulators, so lets sue the company and it's board to recover some of our losses, which will result in the share price dropping further

 

[james t kirk]

proving once again, lawyers come up with some idiotic things... the share price falls because of the settlement with the us regulators, so lets sue the company and it's board to recover some of our losses, which will result in the share price dropping further

The funny thing is that CIBC had to pay out this big claim, however, your average share holder is probably going to end up with fuck all.

If some guy owned 100 or a 1000 shares of Enron, would he suddenly get a cheque from the CIBC?

More like the lawyers would take just about everything.

 

[Weekly]

proving once again, lawyers come up with some idiotic things... the share price falls because of the settlement with the us regulators, so lets sue the company and it's board to recover some of our losses, which will result in the share price dropping further

The focus of this lawsuit is recovering money for small investors, not hurting the shareholder base, from the employees involved, external consultants who signed off on the deals and the board of directors, including Galen Weston and Li Ka-shing, who collectively are worth billions. If you are a CIBC shareholder, it doesn't matter how many shares you own, and would like to be the lead plaintiff contact the email in the link. There's no cost as it's a contingency suit where the lawyers get paid a percentage only if they win. As the lead you might get your name in the newspaper but your role is mostly symbolic so you won't have to quit your day job, or worry about being countersued. I've been in contact with respected class action lawyers. I'm hoping to get a sliver of the winnings if possible as a third-party investor in the suit. Don't forget you'll get the money you lost back if we win.

 

[someone]

Given some of the really lousy service I got from CIBC recently, I was actually happy to hear about the law suits.

 

[Weekly]

I should add I'm pursuing other cases where the companies are smaller than CIBC. Arriscraft and other income trusts for example. If you feel there's been wrongdoing contact me.

 

[scrooge]

I echo the lousy customer service comment mentioned earlier. Their "not admitting to any wrongdoing" is indicative of the bank's arrogance (though standard rhetoric), which, if anything, translates into them deserving paying every penny of the settlement.

 

[GIMME]

I believe the payment is higher than their profit last year!!! That must hurt, wonder when the lay-offs are going to start. Notice the CEO (Former) John Hunkin took the perfect time to step down. Feel sorry for the new dude on the block.

What do you think they'll do to sho profit this year? Sell off the Head Office building and lease it back? Sell a ton of branches? How many people would they lay off?

 

[james t kirk]

Notice the CEO (Former) John Hunkin took the perfect time to step down. Feel sorry for the new dude on the block.

From the "John Roth School of Management"

Lesson No. 1 - When you know that big turd that you are responsible for is coming down the pipe, sell all your shares and get the hell out.