Plumbers & Steamfitters Local 773 Pension Fund sued Canadian Imperial Bank of Commerce and four of its officers on the grounds that they misled investors about CIBC’s exposure to fixed-income securities backed by subprime residential mortgages. One example of a misstatement was in the 2006 Accountability Report, in which CIBC stated, “Although actual losses are not expected to be material, as of October 31, 2006, our maximum exposure to loss as a result of involvement with the CDOs [collateralized debt obligations] was approximately $729 million.” Pension Fund alleges that this reference constituted false and misleading representations because CIBC’s actual exposure to the U.S. real estate market was almost $12 billion. Pension Fund argued that CIBC and its officers were liable under Securities Exchange Act Rule 10b-5 because they failed to comply with generally accepted accounting principles in accounting for the CDO losses. Did the court agree?