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COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST CIT GROUP INC.

July 25, 2008 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/citgroup/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of CIT Group Inc. (“CIT”) (NYSE:CIT) common stock during the period between April 18, 2007 and March 5, 2008 (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/citgroup/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges CIT and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CIT is a leading commercial and consumer finance company, providing clients with financing and leasing products and advisory services in North America, Europe, Latin America and Asia Pacific.

The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company’s financial condition. Specifically, CIT’s public financial statements failed to account for tens of millions of dollars in loans to Silver State Helicopter (“Silver State”), which were highly unlikely to be repaid and should have been written off.

On March 6, 2008, Keefe, Bruyette & Woods issued an analyst report on CIT lowering its first quarter 2008 earnings per share estimate by $.08 based on concerns that CIT would have to write down a significant portion of its private student loan portfolio, including the risk that the Company would have to charge off $179 million of private student loans made to students of Silver State, which recently filed for bankruptcy. As a result, CIT’s stock price dropped $4.50 to close to $15.86 on March 6, 2008.

Plaintiff seeks to recover damages on behalf of all purchasers of CIT common stock during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.