IMPORTANT INVESTOR ALERT: JFJN LAW Announces Securities Class Action Lawsuit Against Caterpillar Inc.
March 23 2017 - 1:41PM
Business Wire
JFJN Law (the “firm) announces the filing of a class action
lawsuit against Caterpillar, Inc. (“Caterpillar” or the “Company”)
(NYSE:CAT). Investors who purchased or otherwise acquired shares
between February 19, 2013 and March 1, 2017 inclusive (the
“Class Period”) are encouraged to contact the Firm in advance of
the May 2, 2017 lead plaintiff motion deadline.
If you purchased shares of Caterpillar during the Class Period,
please contact Justin Frankel, Esq. or Jason Newfield, Esq., of
JFJN Law, 1-888-459-0507 or click here before May 2,
2017.
There has not been a class certification of this case yet. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
The action alleges that, between February 19, 2013 and March 1,
2017, inclusive (the “Class Period”), Caterpillar made false and
misleading statements regarding the Company’s business, operational
and compliance policies. Specifically, the action claims that
Defendants made false and misleading statements or failed to
disclose that: (i) Caterpillar unlawfully used foreign subsidiaries
to avoid paying billions of dollars in U.S. taxes; (ii) discovery
of the foregoing conduct would subject the Company to heightened
regulatory scrutiny and potential criminal sanctions; and (iii) as
a result of the foregoing, Caterpillar’s public statements were
materially false and misleading at all relevant times.
The truth behind Caterpillar’s improper tax avoidance scheme and
the related risks to the Company did not fully come to light until
March 2, 2017, when federal agents conducted a raid to execute a
search warrant on three Company offices including the Company’s
global headquarters in Peoria, Illinois. The search team included
personnel from a number of agencies: (1) the Criminal Investigation
Unit of the IRS; (2) the Office of Export Enforcement of the U.S.
Department of Commerce’s Bureau of Industry and Security; and (3)
the Office of Inspector General of the Federal Deposit Insurance
Corporation.
In response to the news of the multi-agency raid,
Caterpillar’s stock price fell $4.22 per share, or 4.28
percent, to close at $94.36 per share that day, causing harm to
investors.
This press release may be considered Attorney Advertising in
some jurisdictions.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170323006127/en/
Justin C. Frankel, Esq. or Jason Newfield, Esq.Toll-Free
Telephone: 1-888-459-0507www.jfjnclassaction.com
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