Shareholder Alert: Ademi LLP Investigates whether CIT Group Inc. has obtained a Fair Price in its transaction with First Citizens BancShares, Inc.
CIT Group Inc (DEL) (CIT)
Last cit group inc (del) earnings: 4/21 06:00 am
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Source: PR Newswire
MILWAUKEE, Oct. 16, 2020 /PRNewswire/ -- Ademi LLP is investigating CIT Group (NYSE: CIT) for possible breaches of fiduciary duty and other violations of the law in its transaction with First Citizens. Click here to learn how to join the action: http://ademilaw.com/case/cit-group-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. Ademi LLP alleges CIT Group's financial outlook is improving and yet shareholders will receive only 0.0620 shares of First Citizens class A common stock for each share of CIT Group common stock they own. First Citizens stockholders will own approximately 61% and CIT Group stockholders will own approximately 39% of the combined company. The merger agreement unreasonably limits competing bids for CIT Group by prohibiting solicitation of further bids, and imposing a termination penalty if CIT Group accepts a superior bid. CIT Group insiders will receive millions of dollars as part of change of control arrangements. We are i
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