LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Caterpillar, Inc. (“Catepillar” 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.
Investors suffering losses on their Caterpillar investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
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 shares of Caterpillar during the Class Period you may move the Court no later than May 2, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.