The Brualdi Law Firm Announces Class Action Lawsuit Against Canadian Imperial Bank of Commerce

NEW YORK, Sept. 26, 2008 (LAWFUEL) — The Brualdi Law Firm, P.C.
announces that a lawsuit has been commenced in the United States
District Court for the Southern District of New York on behalf of
purchasers of Canadian Imperial Bank of Commerce (“CIBC” or “the
Company”) (NYSE:CM) common stock during the period between May 31, 2007
and May 28, 2008 (the “Class Period”) for violations of federal
securities laws.

No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased CIBC common stock during the Class Period, and wish to
move the court for appointment of lead plaintiff, you must do so by
November 18, 2008. A lead plaintiff is a representative party acting on
behalf of other class members in directing the litigation. The lead
plaintiff will be selected from among applicants claiming the largest
loss from investment in the Company during the Class Period. You do not
need to seek appointment as a lead plaintiff in order to share in any

To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss this
action or have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Sue Lee at The
Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York
10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by
email to [email protected] or visit our website at

The action alleges that Defendants misled investors by falsely
representing that CIBC’s exposure to subprime CDOs was not a major risk
issue and failing to accurately describe its total exposure to the U.S.
subprime mortgage market. Such reassurances were repeated by Defendants
throughout the Class Period in order to artificially support CIBC’s
stock price in the midst of a weakening subprime mortgage market.
Additional disclosures through the end of the Class Period revealed the
full extent of CIBC’s exposure to toxic subprime mortgage-backed
securities, causing the Company’s stock to plummet to $63.93 per share
on June 6, 2008 after the final curative disclosure on May 29, 2008 was
digested by the market — a drop of more than 40% from CIBC’s Class
Period high.

More information on this and other class actions can be found on the
Class Action Newsline at

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