BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 2, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class of investors who purchased or otherwise acquired Caterpillar, Inc. (“Caterpillar” or the “Company”) (NYSE: CAT) securities between February 19, 2013 and March 1, 2017, inclusive (the “Class Period”). Caterpillar investors have until May 2, 2017 to file a lead plaintiff motion.
On March 2, 2017, the Company admitted that law enforcement agents were present in various Caterpillar facilities executing a search warrant. And, various news sources have reported that federal agents from the IRS, FDIC and Commerce Department were searching the Company’s offices. On this news, shares of Caterpillar fell by over 4.5%, or over $4.50 per share, during intra-day trading on March 2, 2017.
The complaint filed in this class action alleges that, during the Class Period, defendants made false and 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.
If you purchased or otherwise acquired Caterpillar shares, you may move the Court no later than May 2, 2017 to request appointment as lead plaintiff. To be a member of the class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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