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...
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