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Caterpillar sinks 4.8% as federal officials search HQ (updated)

Mar. 02, 2017 12:27 PM ETCaterpillar Inc. (CAT) StockCATBy: Jason Aycock, SA News Editor66 Comments
  • Caterpillar (NYSE:CAT) shares are 4.8% lower as federal officials search the company's headquarters and other area facilities, the company confirms.
  • It's not yet clear which agency is searching, or for what. But "Caterpillar is cooperating," the company says.
  • An employee source says that some employees have been directed to the cafeteria and told to remain there.
  • Some officials entering the building had jackets with IRS logos, while others appeared to be from the FDIC, the Peoria Journal Star reports. Still others seemed to be tied to police from the Commerce Dept.
  • Updated 1:18 p.m.: NBC station WEEK reports that the agents are seeking tax documentation and have asked tax employees to leave the building.

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