NEW YORK–(BUSINESS WIRE)–Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of CIT Group Inc. (NYSE: CIT) to First Citizens BancShares, Inc. is fair to CIT shareholders. On behalf of CIT shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
If you are a CIT shareholder and would like to discuss your legal rights and options, visit CIT Merger or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].
Under the terms of the merger agreement, CIT shareholders will receive 0.0620 shares of First Citizens class A common stock for each share of CIT common stock they own. The investigation concerns whether CIT and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for CIT shareholders; (2) determine whether First Citizens is underpaying for CIT; and (3) disclose all material information necessary for CIT shareholders to adequately assess and value the proposed transaction.
If you are a CIT shareholder and would like to discuss your legal rights and options, visit https://halpersadeh.com/actions/cit-group-inc-stock-merger-first-citizens/ or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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