Faruqi and Faruqui, LLP Logo
Share this page

Caterpillar Inc. (CAT)

NYSE:CAT

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Caterpillar Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Caterpillar Inc. (“Caterpillar” or the “Company”) (NYSE:CAT) of the May 2, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased Caterpillar securities between February 19, 2013 and March 1, 2017 (the “Class Period”).  The case, Newman v. Caterpillar, Inc. et al, No. 1:17-cv-01713was filed on March 3, 2017, and has been assigned to Judge Sharon Johnson Coleman.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Caterpillar unlawfully used foreign subsidiaries to avoid paying billions of dollars in U.S. taxes; (ii) discovery of the aforementioned conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result, the Company’s public statements were materially false and misleading.

Specifically, on March 2, 2017, law enforcement officials executing search warrants raided the Company’s facilities in Peoria, Illinois.  Later that day, the Company issued a statement discussing the federal law enforcement raids to its facilities, stating: “We believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter,” referring to its Swiss subsidiary Caterpillar SARL. Additionally, Bloomberg News reported that the warrants “sought evidence related to potential crimes, including ‘failure to file or submitting false electronic export information’ and ‘false and misleading financial reports and statements.”

On this news, Caterpillar’s share price fell from $98.58 per share on March 1, 2017 to a closing price of $94.36 on March 2, 2017—a $4.22 or a 4.28% drop.

Take Action

If you invested in Caterpillar securities between February 19, 2013 and March 1, 2017 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Caterpillar’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Caterpillar Inc. (CAT)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/15/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.