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Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of shareholders of Caterpillar, Inc. (NYSE : CAT) who purchased shares between February 19, 2013 and March 1, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or 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 Caterpillar’s facilities in Peoria, Illinois. 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 4.28% to close at $94.36 per share on March 2, 2017, damaging investors.
If you suffered a loss in Caterpillar, Inc. you have until May 2, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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