Caterpillar shares sink on news of federal probe

Caterpillar shares sink on news of federal probeLaw enforcement officials entered three facilities in and around Caterpillar’s Peoria headquarters in the Midwestern state of Illinois “to execute a search and seizure warrant,” the company said in a statement. Caterpillar said the investigation appeared to be linked to an existing probe of its Swiss affiliate, CSARL. The Senate report said Caterpillar shifted to CSARL taxable income totaling more than $ 8 billion, enabling it to avoid paying $ 2.4 billion in US taxes.



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