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Caterpillar Inc. (NYSE:CAT) Investor Securities Class Action Lawsuit 03/03/2017

  • If you purchased shares of Caterpillar Inc. (NYSE:CAT), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Caterpillar Inc.
Security
NYSE: CAT

Case Name
Caterpillar Shareholder Class Action Lawsuit 03/03/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 26, 2018 - The court granted the defendants' motion to dismiss.

October 10, 2017 - A motion to dismiss the amended complaint was filed.

August 8, 2017 - An amended complaint was filed.

March 3, 2017 (Shareholders Foundation) - An investor in shares of Caterpillar Inc. (NYSE:CAT) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Caterpillar Inc. in connection with certain allegedly false and misleading statements made between February 19, 2013 and March 1, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Caterpillar Inc. (NYSE:CAT) common shares between February 19, 2013 and March 1, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 19, 2013 and March 1, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that Caterpillar unlawfully used foreign subsidiaries to avoid paying billions of dollars in U.S. taxes, that discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions, and that as a result of the foregoing, Caterpillar's public statements were materially false and misleading at all relevant times.
Caterpillar Inc. reported that its annual Total Revenue declined from $47.01 billion in 2015 to over $38.53 billion in 2016 and that its Net Income of over $2.51 billion in 2015 declined to a Net Loss of $67.00 million in 2016.

Shares of Caterpillar Inc. (NYSE:CAT) grew from $59.87 per share in January 2016 to as high as $99.20 per share in February 2017.

On March 2, 2017, Caterpillar Inc announced that on March 2, 2017, law enforcement authorities entered three Peoria-area Caterpillar Inc. (NYSE: CAT) facilities, including the corporate headquarters, to execute a search and seizure warrant and that the warrant is focused on the collection of documents and electronic information.

Shares of Caterpillar Inc. (NYSE:CAT) declined on March 2, 2017 to as low as $92.84 per share.