Caterpillar Reveals Grand Jury Probe Over Cash Movement
Law360, New York (February 18, 2015, 3:34 PM EST) -- Construction equipment maker Caterpillar disclosed Wednesday that it's being investigated by an Illinois grand jury regarding movement of cash into and out of the U.S.
The disclosure came in a filing with the U.S. Securities and Exchange Commission, in which the company said a grand jury in the Central District of Illinois is investigating alleged transborder movements of cash that weren't properly recorded.
The company alerted investors that the Illinois probe concerned "undistributed profits of non-U.S. subsidiaries and the movement of cash among U.S. and non-U.S. subsidiaries."
It didn't specify the subsidiaries in question.
The company also disclosed that two companies it...
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