Caterpillar Gets Subpoena for Information on Subsidiaries

Caterpillar Inc., the largest manufacturer of mining and construction equipment, said it received a grand jury subpoena requesting information about matters including the movement of cash among its U.S. and non-U.S. units.

The subpoena was issued by the U.S. District Court for the Central District of Illinois, Caterpillar said today in a filing.

“The company is cooperating with this investigation” and it doesn’t believe the matter will have a “material adverse effect” on its results, Peoria, Illinois-based Caterpillar said.

Caterpillar didn’t immediately return a phone call seeking further comment on the ruling.

The company has also been notified that the Securities and Exchange Commission was conducting an informal investigation relating to its Caterpillar SARL unit and related structures, according to the filing. The SEC asked Caterpillar “to preserve relevant documents” and the company voluntarily made a presentation to the agency’s staff on these topics, according to the filing.

The company is cooperating with the SEC regarding this investigation and believes that the matter will not have a material adverse effect, Caterpillar said.

These inquiries come after the SEC issued a subpoena to Caterpillar in September 2014 seeking information about the company’s accounting for the goodwill relating to its acquisition of Bucyrus International Inc. in 2011.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE