Canadian Imperial Bank of Commerce (CIBC) said on Friday it would appeal a New York court's ruling in a lawsuit brought against the bank by an entity of U.S. private equity firm Cerberus Capital Management.
The Canadian Imperial Bank of Commerce logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File Photosaid on Friday it would appeal a New York court's ruling in a lawsuit brought against the bank by an entity of U.S. private equity firm Cerberus Capital Management.
The court issued a liability ruling against the lender, but has not determined how much it will have to pay. The parties will get to present arguments on the damages at a hearing on Dec. 19, CIBC said.
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