Canadian Western Bank Says Legal Claim Caused Earnings Delay

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Canadian Western Bank said the reason it delayed release of its fourth-quarter earnings Friday was because it received a legal claim against a subsidiary that needed “prudent investigation.”

As Canadian banks report Q4 hits and misses, portfolio manager Neela White says investors should consider keeping a mixed basket of bank stocks.

“Based on current knowledge, we do not expect the outcome of this claim to have a material effect on the consolidated financial statements,” the bank said in the statement.

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