Caterpillar officers at company headquarters raided by federal agents

Feds search Caterpillar facilities in Peoria

Shares of Caterpillar were down more than 4 percent to about $94 in midday trading.

Federal law enforcement officials executed a search warrant Thursday at three central IL facilities of Caterpillar, one of the largest construction equipment manufacturers in the world.

The company has said that it was cooperating with the investigation, which is being overseen by the USA attorney's office for the Central District of IL.

"Caterpillar is cooperating", the brief statement quoted by Sun Times said. Cat also says it is cooperating with the investigation.

A viewer sent WEEK a photo of law enforcement officials wearing IRS jackets entering the building. A spokesperson declined further comment.

The Journal Star reports that the search may be connected to allegations about Caterpillar's tax strategy that was outlined in a 2009 wrongful termination lawsuit by a former employee.

The U.S. attorney's spokeswoman said agents were at Caterpillar locations in Peoria, East Peoria and Morton, Ill. S. Caterpillar subsidiaries and dividend distributions of certain non-U.

In 2014, the SEC subpoenaed Caterpillar seeking information about the company's accounting related to its acquisition of Bucyrus International in 2011. S. subsidiaries, the company said.