CIT Group Looks to Settle Securities Fraud Lawsuit 879

Product liability is another area of San-Diego-Personal-Injury-attorney.com

A $75 million settlement has been proposed to a federal judge in a class-action shareholder lawsuit against CIT Group Inc. over alleged securities fraud. San-Diego-Auto-Accident-lawyer In the lawsuit, the plaintiffs claimed the company failed to “disclose a lowering of credit standards and misrepresented the performance of subprime mortgage portfolios.” CIT Group asked for the case to be dismissed two years ago, but the judge had refused based on the plaintiffs’ claims.  Basil Katz, Reuters  03/15/2012  San Diego personal injury attorney

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