Feds Raid Caterpillar Offices in Illinois

Feds Raid Caterpillar Offices in Illinois

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, and the company's stock fell.

The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at locations in Peoria, East Peoria and Morton.

It was not immediately clear why federal agents raided the three locations.

Caterpillar spokeswoman Corrie Scott said in an emailed statement that the company was cooperating with authorities.

"Law enforcement is present in various Peoria-area Caterpillar facilities executing a search warrant. Caterpillar is cooperating," Scott said. She declined to comment further.

Caterpillar shares fell 4.9% in afternoon trading on the news.

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