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SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of CIT Group Inc. (NYSE - CIT)

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BALA CYNWYD, PA / ACCESSWIRE / October 16, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of CIT Group Inc. ("CIT Group" or the "Company") (NYSE:CIT) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by First Citizens BancShares, Inc. (NASDAQ:FCNCA) ("First Citizens"). Under the terms of the agreement, CIT Group stockholders will receive only 0.0620 shares of First Citizens Class A common stock for each share of CIT Group common stock they own.

The investigation concerns whether the CIT Group Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether First Citizens is paying too little for the Company. For example, the deal price is well off the 52-week high of $48.96 for CIT Group shares and at least one wall street analyst has set a target price of $54.00 for CIT Group shares.

If you own shares of CIT Group stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/cit-group-inc-nyse-cit/, or call toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC



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