CIT Investors Blast Goldman, Others Over Discovery

Law360, New York (August 31, 2011, 7:41 PM EDT) -- A class of CIT Group Inc. shareholders on Tuesday sought to force Goldman Sachs Group Inc., Morgan Stanley and others that underwrote a 2007 offering of CIT securities to turn over documents for a suit accusing CIT of hiding risks associated with its subprime business.

The shareholders contend they have tried for over a year to compel Goldman, Morgan Stanley, Citigroup Global Markets, Inc. and Bank of America Corp. subsidiary Merrill Lynch to comply with subpoenas for documents, but the companies have balked at the requests...
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