CIT Execs Pay $75M To End Investor Row Over Subprime Risks
By Sindhu Sundar ( March 13, 2012, 9:27 PM EDT) -- CIT Group Inc.'s former executives on Tuesday agreed to pay $75 million to settle investors' proposed class action accusing them of concealing risks in subprime loans the business lender issued and of making misleading statements downplaying those risks and inflating company stock....
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