PR Newswire | Oct 21, 2020 11:49PM EDT

Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of CIT Group Inc. - CIT

10/21 22:49 CDT

CIT GROUP INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of CIT Group Inc. - CIT NEW ORLEANS, Oct. 21, 2020

NEW ORLEANS, Oct. 21, 2020 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of CIT Group Inc. (NYSE: CIT) to First Citizens BancShares, Inc. (NasdaqGS: FCNCA). Under the terms of the proposed transaction, shareholders of CIT will receive only 0.0620 shares of First Citizens for each share of CIT that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-cit/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC 1100 Poydras St., Suite 3200 New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC