March 24, 2010 - The court entered a judgment in favor the defendants and ordered the case closed.
March 17, 2010 - The court granted defendants' motion to dismiss.

May 15, 2009 - Defendants filed a motion to dismiss.

February 20, 2009 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Canadian Imperial Bank of Commerce (NYSE: CM) common shares between May 31, 2007 and May 29, 2008. The lead plaintiff alleges that defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between May 31, 2007 and May 29, 2008.

January 9, 2009 - The lead plaintiff and lead counsel were appointed.

November 18, 2008 - Lead plaintiff motion was filed.

September 19, 2008 - An investor in shares of Canadian Imperial Bank of Commerce (NYSE: CM) filed a lawsuit in the U.S. District Court for the Southern District of New York against Canadian Imperial Bank of Commerce over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 31, 2007 and May 28, 2008.

The complaint charges Canadian Imperial Bank of Commerce and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that the statements contained in Canadian Imperial Bank of Commerce's press releases, SEC filings, conference calls and presentations during the Class Period were materially false and misleading when made because they failed to disclose that: (i) Canadian Imperial Bank of Commerce did not make timely disclosure of material changes affecting the valuation of its investments in collateralized debt obligations consisting of U.S. subprime mortgages, in violation of U.S. Generally Accepted Accounting Principles (“GAAP”); (ii) Canadian Imperial Bank of Commerce’s hedged subprime exposure was nearly four times larger than its unhedged subprime exposure; and (iii) 35% of Canadian Imperial Bank of Commerce’s hedged subprime exposure was entrusted with ACA Financial Guaranty Corp, a substantially undercapitalized financial guarantor.

On December 6, 2007, Canadian Imperial Bank of Commerce (NYSE: CM) released fourth quarter results that stunned the banking community by revealing a surprisingly large exposure to the troubled U.S. housing market. Canadian Imperial Bank of Commerce said its write-downs had already reached $1 billion, and warned of significantly higher losses in the future related to its $9.8 billion in hedged exposure to the subprime mortgage and CDO market. Upon this announcement, shares fell 8.4% over the next two trading days, from $85.83 to $78.59. But it was not until May 29, 2008 that Canadian Imperial Bank of Commerce's full exposure to U.S. subprime mortgages was finally revealed. On that date, Canadian Imperial Bank of Commerce swung to a fiscal second-quarter loss as it took a $2.51 billion loss related to its structured credit activities, and analysts said the potential for more write-downs looms even though the bank has taken charges totaling approximately $6 billion in the past year.

Canadian Imperial Bank of Commerce is one of Canada’s largest banking institutions, providing various financial products and services to corporate, government, and institutional clients in the U.S. and Canada.