CIT rebuts claims from advisory service for shareholders

05/5/2010 | Reuters

CIT Group is countering claims that its shareholder-rights plan and pay practices are detrimental to shareholders. ISS Proxy Advisory Services recommended that shareholders vote against some CIT directors to protest the rights plan, which it said limits any person or group from accumulating more than 5% of CIT's stock. The RiskMetrics Group unit also disapproves of CIT's fixed-salary compensation plan. CIT defended these moves as necessary to its bankruptcy.

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