NEW YORK Lehman Brothers Holdings Inc. reached a $149.5 million settlement with Canadian Imperial Bank of Commerce, one of the many banks accused by Lehman’s estate of stiffing the defunct investment bank under collateralized debt obligation (CDO) deals cooked up in flusher times.
The settlement, announced on December 31, ended a lawsuit Lehman brought in 2010 seeking $1.3 billion in damages from the Canadian bank. The estate is pursuing parallel claims against Bank of America Corp. and additional banks.
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