Judge Gives CIBC One Last Chance In Securities Case

Law360, New York (August 16, 2007, 12:00 AM EDT) -- A U.S. judge has kept alive a bid by Canadian investment bank CIBC World Markets Inc. for $13 million in default damages in a securities fraud case against Deustche Bank, ignoring the recommendations of a fellow judge to deny the claim.

After urging from CIBC, U.S. District Judge Michael Davis agreed not to adopt the findings of a report by U.S. Magistrate Judge Arthur Boylan, who recommended in May that the firm's claim for damages and attorneys' fees be denied outright.

While agreeing with Boylan that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.