A lawsuit was filed by a current investor in Caterpillar Inc. (NYSE:CAT) shares against certain directors of Caterpillar Inc and NYSE:CAT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/28/2015 -- An investor in shares of Caterpillar Inc. (NYSE:CAT) filed a lawsuit against certain directors of Caterpillar Inc alleging that the company's board concealed foul play by auditor PricewaterhouseCoopers in connection with tax evasion allegations.
Investors who purchased shares of Caterpillar Inc. (NYSE:CAT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
In 2014 a report was released by the U.S. Senate's Permanent Subcommittee on Investigations saying that Caterpillar Inc allegedly avoided paying $2.4 billion in U.S. taxes from 2000 through 2012 by moving profits from sales of replacement parts through a low-tax unit it set up in Switzerland.
The plaintiff claims that the board of directors of Caterpillar Inc was materially involved in the preparation of the the May 2 proxy statement, which fails to properly disclose all material facts related to PricewaterhouseCoopers' assisting Caterpillar Inc in designing and implementing a tax-evasion scheme that was calculated to make it appear as though Caterpillar's revenues and profits were derived from Switzerland and not the United States so as to evade U.S. taxes, a scheme that Caterpillar Inc allegedly continues to utilize to this day with the defendants' approval and PricewaterhouseCoopers' tainted blessing,
In February 2015 Caterpillar Inc disclosed that on January 8, 2015, it received a grand jury subpoena from the U.S. District Court for the Central District of Illinois which requests documents and information from the Company relating to, among other things, financial information concerning U.S. and non-U.S. Caterpillar subsidiaries (including undistributed profits of non-U.S. subsidiaries and the movement of cash among U.S. and non-U.S. subsidiaries).
Those who purchased shares of Caterpillar Inc. (NYSE:CAT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com