Period: Feb 19, 2013 to Mar 1, 2017
Lead Plaintiff Deadline: May 2, 2017
Summary of Case:
A securities class action has been filed against Caterpillar, Inc. (CAT) on behalf of all persons who purchased or otherwise acquired CAT securities between February 19, 2013 through March 1, 2017. This case has been filed in the USDC - Illinois (Northern).
The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Caterpillar unlawfully used foreign subsidiaries to avoid paying billions of dollars in U.S. taxes; (2) discovery of such conduct would subject Caterpillar to heightened regulatory scrutiny and potential criminal sanctions; and (3) as a result, Caterpillar's public statements were materially false and misleading at all relevant times. On March 2, 2017, law enforcement officials raided Catperpillar's facilities in Peoria, Illinois. Later that day, Caterpillar indicated that it believed the raid is related to, among other things, export filings of its Swiss subsidiary Caterpillar SARL. On this news, shares of Caterpillar fell $4.22 or 4.28% to close at $94.36 per share on March 2, 2017, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.