Canadian Western Bank Delays Earnings Release, Citing Ongoing Lawsuit
calgary, Alberta – Canadian Western Bank (CWB) announced a delay in the release of its fourth-quarter earnings, citing an ongoing legal matter as the reason.The bank, which was expected to report its financial results on November 28, has not yet set a new date.
The news sent CWB’s stock price tumbling, with shares closing down [Insert percentage decrease] on Tuesday.
“The delay is due to a pending legal matter that requires our full attention,” said a CWB spokesperson in a statement. “We are committed to providing a transparent and accurate update to our shareholders quickly.”
The bank declined to provide further details about the nature of the lawsuit.This delay comes amidst a period of significant change for CWB. In august, the National Bank of Canada announced its intention to acquire CWB in a deal valued at [Insert deal value]. The acquisition, which is still subject to regulatory approval, is expected to close in the first …