CATERPILLAR INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Caterpillar, Inc. - CAT

NEW ORLEANS, March 24, 2017

On March 2, 2017, law enforcement officials executing search warrants raided the Company's facilities in Peoria, Illinois.  Later that day, Caterpillar issued a statement discussing the raids, 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.  Bloomberg News subsequently 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.'"  The New York Times reported that a new report commissioned by the federal government accuses Caterpillar of carrying out tax and accounting fraud to boost its stock price. The report outlines a company strategy for bringing home billions of dollars of offshore money while avoiding federal income taxes on those earnings, according to the Times.

Thereafter, Caterpillar and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws.

KSF's investigation is focusing on whether Caterpillar's officers and/or directors breached their fiduciary duties to Caterpillar's shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-time holder of Caterpillar shares, and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).

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