Caterpillar stock slides after report law enforcement is searching its offices


Multiple sources inside Caterpillar headquarters say human resources are telling employees law enforcement are executing a search warrant. "Caterpillar is cooperating. She wouldn't comment further".

The investigation involves three federal agencies: the Internal Revenue Service, the Federal Deposit Insurance Corporation and the Commerce Department's Bureau of Industry and Security Office of Export Enforcement, according to Crain's Chicago Business.

Caterpillar (CAT) shares tumbled Thursday as the company confirmed that law enforcement is searching its Peoria, Illinois, headquarters and other Illinois facililties.

Caterpillar said federal law enforcement officials executed a search warrant at the company's facilities in northern IL.

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Caterpillar stock shed more than 5% of its value Thursday, March 2, 2017, following reports that law enforcement activity occurred at its facilities. S. Caterpillar subsidiaries and dividend distributions of certain non-U. The subpoena was described as seeking documents and information "relating to. the movement of cash among U.S and non U.S subsidiaries". The company said it was cooperating with the authorities.

Pending legal issues highlighted in the 2016 Caterpillar annual report filed with the Securities and Exchange Commission last month included a January 2015 federal grand jury subpoena that sought financial information about the company's U.S. and non-U.S. subsidiaries.

Most recently, in early 2015, a federal court in IL subpoenaed the company for documents and information relating to the distribution of profits and movement of cash among its subsidiaries.