Canadian Imperial Bank of Commerce breached Canadian accounting standards by failing to properly disclose its exposure to subprime mortgages, according to expert testimony filed in Canada biggest lawsuit to stem from the credit crisis.Gordon Richardson, the KPMG professor of accounting at the Rotman School of Management in Toronto and a PhD, writes in his 65 page review of the bank subprime disclosure that failed to comply with GAAP disclosure requirements and the information provided to pertaining credit risk was, prior to December 6, 2007, wholly misleading to the market in general and to class members who invested in CIBC. Lawsuit covers the period of May 31, 2007 to Feb. 28, 2008, a tumultuous period in the capital markets when credit started freezing up and investment firms scrambled to understand their exposure to subprime investments.Mr.
Jones hired attorney David Boies and threatened to sue to prevent Goodell’s extension from being ratified and taking effect in early November. He later dropped that threat of litigation, and the extension, worth as much as roughly $40 million per year and running through 2024, was completed. Jones, through a letter sent by an attorney for the Cowboys, at one point accused Atlanta Falcons owner Arthur Blank, the chairman of the compensation committee, which negotiated Goodell’s extension, of misleading other owners..
Six fishermen are safe on dry land after being rescued from their sinking vessel Monday.Rescue audio: “May day may day. This is the fishing vessel Jane Jane. (inaudible) sink sink over. That pushed the Saskatchewan election to the spring, happens to coincide with this, but has nothing to do with whether (lifting the wage freeze) should go forward or not. Freeze was announced early last February. It followed a hiring freeze in December 2014, in reaction to falling commodity prices and worries about the impact on provincial coffers..
Timothy Crowe was one of 19 inmates in Pod 2B who stopped eating to protest conditions at the provincial jail, located at 18415 127 St.The inmates were protesting increased time spent in lockup and the removal of an inmate to a high security unit. They also allege correctional officers sometimes used excessive force.Alberta Justice said the strike ended Jan. 10 due to “ongoing communication between centre staff and the inmates.”But Crowe said the issues haven’t been resolved.”We had an agreement with them where they said they’d look into our complaints, they were going to release an inmate that’s been in (the maximum security pod) for almost a year,” he said.He said inmates in two of the jail’s pods are still locked up for more than 20 hours a day.