ColonelAngus
Diamond Member
- Feb 25, 2015
- 66,420
- 75,429
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DAMN!
https://finance.yahoo.com/news/cate...arched-law-enforcement-171624724--sector.html
CHICAGO (Reuters) - Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, prompting a sharp selloff in the company's stock.
The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at locations in Peoria, East Peoria and Morton.
Caterpillar is fighting an Internal Revenue Service demand that the company pay $2 billion in taxes and penalties for profits assigned to a Swiss parts distribution subsidiary, Caterpillar SARL, or CSARL, according to filings with the Securities and Exchange Commission. That subsidiary was also the subject of a 2014 Senate committee report that charged Caterpillar "shifted billions of dollars in profits away from the United States."
https://finance.yahoo.com/news/cate...arched-law-enforcement-171624724--sector.html
CHICAGO (Reuters) - Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, prompting a sharp selloff in the company's stock.
The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at locations in Peoria, East Peoria and Morton.
Caterpillar is fighting an Internal Revenue Service demand that the company pay $2 billion in taxes and penalties for profits assigned to a Swiss parts distribution subsidiary, Caterpillar SARL, or CSARL, according to filings with the Securities and Exchange Commission. That subsidiary was also the subject of a 2014 Senate committee report that charged Caterpillar "shifted billions of dollars in profits away from the United States."
