• Caterpillar

    Caterpillar Shares Hit on Disclosure of Accounting Misconduct

    Shares of Caterpillar Inc. (NYSE: CAT [FREE Stock Trend Analysis]) are trading down today in reaction to the company's announcement on Friday, January 18 after the market close that its recently acquired Chinese subsidiary had previously engaged in accounting misconduct. The Peoria, IL-based global manufacturer of construction and mining machinery and equipment disclosed that its internal investigation of Zwengzhou Siwei Mechanical & Electric Manufacturing Co., “uncovered deliberate, multi-year, coordinated accounting misconduct concealed at Siwei."