NEW YORK, March 2, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CIT Group Inc. ("CIT" or the "Company") (NYSE: CIT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether CIT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 1, 2017, post-market, CIT announced that the Company was unable to meet the deadline for filing an annual report for the second consecutive year due to ongoing weakness in the accounting of a mortgage business. CIT advised investors that the Company was revising its financial statements for 2014, 2015, and the fourth quarter of 2016.
On this news, CIT's share price has fallen as much as $0.57, or 1.30%, during intraday trading on March 2, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP