☰

M. Continuo

Caterpillar reports SEC investigation of cash movement


    (Reuters) - The movement of cash among Caterpillar Inc's U.S. and foreign subsidiaries is being investigated by U.S. authorities, the company said in a regulatory filing on Tuesday.

    The heavy machinery maker said it had received a grand jury subpoena from a U.S. District Court on Jan. 8 and is cooperating with the investigation. (http://bit.ly/1JounJM)

    The company believes that the investigation would not have a material effect on its financial position.

    CATERPILLAR (CAT.NY)also said in its latest filing that it had made a presentation to the SEC on Caterpillar SARL, on which the regulatory authority is conducting an investigation.

    The company is also in talks with the SEC about a possible resolution of another federal investigation, involving Caterpillar?s Progress Rail subsidiary.

    The company believes that ?a loss is probable? as a result of the Progress Rail situation but that the company did not expect the investigation to have a major negative effect on its finances.

    Caterpillar was not immediately available for comment after regular business hours.

    (Reporting by Sudarshan Varadhan in Bengaluru; Editing by Lisa Shumaker)