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Investors Say CIT Lied About Risks

By Erin Marie Daly (July 20, 2009, 5:44 PM EDT) -- Cash-strapped CIT Group Inc. — which is currently embroiled in a struggle to avoid filing for bankruptcy — is also facing allegations that it failed to disclose risks associated with its subprime home lending and private student lending businesses, causing shareholders to suffer "hundreds of millions of dollars" in damages....

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