Class action lawsuit filed against Caterpillar

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ILLINOIS - Three law firms have filed a class action lawsuit against Caterpillar on behalf of shareholders.

Pomerantz Law Firm, Rosen Law Firm, and Glancy, Prongay & Murray filed the lawsuit, which represents shareholders as far back as 2013.  Caterpillar executives, such as CEO James Umpleby and CFO Bradley Halverton, as well as former CAT CEO Doug Oberhelman are named in the lawsuit.

The lawsuit states that Caterpillar allegedly made "false and/or misleading statements" regarding the company's "business, operations, and prospects."  Additionally, the lawsuit states that Caterpillar allegedly "unlawfully used foreign subsidiaries to avoid paying billions in U.S. taxes."

Caterpillar is not providing comment at this time.  WAND News has reached out to law firms involved with this case, but has not received responses to requests for comment.

The lawsuit follows federal law enforcement raids at three Caterpillar facilities in Illinois last week.

We will provide updates as they becomes available.

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