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September 9, 2003 | Kathy M. Kristof, Times Staff Writer
A Los Angeles jury ordered CIBC World Markets Corp. on Monday to pay almost $52 million to three money management firms that had accused the investment bank of deceiving them in a 1997 deal. The money management firms, Oaktree Capital Management and TCW Group Inc., both of Los Angeles, and Pacholder Associates Inc., a mutual fund company based in Ohio, charged that CIBC hid damaging information when selling $200 million in bonds issued by now-defunct Renaissance Cosmetics.
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BUSINESS
September 9, 2003 | Kathy M. Kristof, Times Staff Writer
A Los Angeles jury ordered CIBC World Markets Corp. on Monday to pay almost $52 million to three money management firms that had accused the investment bank of deceiving them in a 1997 deal. The money management firms, Oaktree Capital Management and TCW Group Inc., both of Los Angeles, and Pacholder Associates Inc., a mutual fund company based in Ohio, charged that CIBC hid damaging information when selling $200 million in bonds issued by now-defunct Renaissance Cosmetics.
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