NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Caterpillar, Inc. (NYSE: CAT).
On March 2, 2017, multiple federal law enforcement agencies executed search warrants in a raid of Caterpillar’s offices, which the Company stated was related to “export filings” for its Swiss subsidiary. Media reports alleged that the raids were “related to potential crimes, including ‘failure to file or submitting false electronic export information’ and ‘false and misleading financial reports and statements’” and that a report commissioned by the federal government accused Caterpillar of tax and accounting fraud, avoiding federal income taxes on billions of dollars of offshore money, to boost its stock price.
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, which is ongoing. On October 10, 2017, the Company filed a motion to dismiss the suit, which is presently under consideration by the court.
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 (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-cat/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.