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Enron Dismissal Raises Questions For Banks

Law360 (March 21, 2007, 12:00 AM EDT) -- While some Enron investment partners may be celebrating an appeals court’s decision to undo a class certification against them, banks that settled with the angry shareholders may be wondering if, with the clarity of hindsight, they took the right bet.

Unlike Merrill Lynch & Co. and Credit Suisse Group, which rode the $40 billion class action to court, Canadian Imperial Bank of Commerce, JP Morgan Chase & Co. and Citigroup Inc. instead agreed to shell out $6.6 billion to put it to bed.

CIBC paid $2.4...
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