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Take a look at the trailer for our second Touhou style album, Calm Sea and Raging Lake!

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Observe The Law When Dealing With Shareholders

As a business owner, one of the most common ways you can raise capital is through the selling of shares, particularly if you have an LLC. While this gives you an solid avenue for acquiring capital for business operations, throughout the process you must be diligent to operate within the confines of the law. Having shareholders changes your business substantially and you need to understand how to deal with them appropriately.

One important way to maintain good relations with your shareholders is to communicate effectively. This includes communicating with them when business is not so good. The following post explains an unfortunate case between a company and its shareholders:

Slater And Gordon Law Firm Faces Class Action From Shareholders

Thousands of Slater and Gordon shareholders will take part in a class action against the high-profile law firm following allegations the company knew it was in financial trouble.

Rival firm Maurice Blackburn is leading the $250-million class action involving more than 3,000 people.

Andrew Watson from Maurice Blackburn said Slater and Gordon misrepresented its financial prospects to the market after it acquired a division in the UK company Quindells in April 2015.

The value of Slater and Gordon shares plummeted and they reported a net loss of $1.02 billion in August, but the firm promised shareholders it would recover. Read more at ABC…

Whenever you make a business decision in good faith and it doesn’t bring the results you anticipated, it is important to communicate properly with your shareholders. That way, you maintain their trust.

You also need to avoid any unlawful transactions that may jeopardize your shareholders’ investments. If not, you may end up in a lawsuit, as described in the following post:

Sears’ CEO Agrees To $40 Million Settlement Of Lawsuit That Alleged He Unfairly Enriched Himself With The Company’s ‘Crown-Jewel Assets’ (SHLD)

Sears CEO Eddie Lampert and the company’s board of directors agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert had stripped the company of its best assets to benefit himself and his hedge fund.

The suit targets a real-estate investment trust called Seritage Growth Properties, which Lampert created in 2015.

After launching Seritage, Lampert orchestrated a big real-estate deal. Sears sold 235 stores, including many of its most profitable locations, to Seritage in 2015. Sears raised $2.7 billion from the sale and rented back the store space from Seritage….

The lawsuit said that the Sears stores were worth far more than $2.7 billion and that Lampert — by standing on both sides of the transaction — stood to benefit regardless. Read more at Business Insider…

There are some basic rules of engagement you need to observe when you have shareholders on your team. Having a legal adviser by your side will ensure that you avoid these pitfalls.

Another way you could end up in trouble with shareholders is when you give false or misleading statements. The following post describes such a scenario:

Shareholder Files Lawsuit Against Caterpillar After federal Raid

Caterpillar and some of its top executives are being sued by a shareholder in federal court just one day after a search warrant was issued at three local facilities as part of the ongoing investigation into the company’s tax practices overseas.

The law firm of Pomerantz LLP filed the lawsuit in Chicago’s federal court Friday on behalf of Jacob Newman. He is trying to have the suit gain class-action status. He alleges the company made false and misleading statements and engaged in unlawful acts related to CSARL, a parts subsidiary in Switzerland. Newman claims this has caused him “significant losses”.

Newman and his attorneys are asking for unspecified damages and is demanding a jury trial.  Read more at CI Proud…

It is advisable to engage a business attorney whenever you need to make any major decisions that will affect your shareholders. If you are looking representation for business law matters in Charlotte, Meek Law Firm can help.

We are committed to providing our business law clients the best legal support in every situation. Attorney Jonathan Meek has assisted many business owners and he can help you as well. Call (704) 848-6335 or use the contact form on the website to schedule a consultation appointment.

Keep reading about Observe The Law When Dealing With Shareholders at Meek Law Firm

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Caterpillar offices raided in probe related to Swiss unit

Caterpillar offices raided in probe related to Swiss unit

Federal law enforcement officials

Federal law enforcement officials raided three central Illinois facilities of manufacturer Caterpillar on Thursday as part of an investigation the company said may be related to business with its Swiss subsidiary CSARL.

Officials from three federal agencies searched the Peoria, Illinois, headquarters of Caterpillar, one of the world’s largest makers of…

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Caterpillar shares rise as import practices scrutinized | Reuters

Caterpillar Inc’s (CAT.N) shares gained on Friday, the day after U.S. law enforcement officials raided three of the company’s Illinois facilities, as the Trump administration promised stricter scrutiny of multinationals’ import and export practices.

U.S. Secretary of Commerce Wilbur Ross said on Friday that the raids at the heavy equipment manufacturer were part of an ongoing probe.

“The Commerce Department has enforcement responsibilities both on imports and on exports, so it’s an important part of our function,” Ross said on CNBC. “We’re going to be even stricter on enforcement, particularly on inbound goods that shouldn’t be.”

One of the locations raided, in Morton, Illinois, is the central point for receiving and shipping after-market parts worldwide, according to Caterpillar’s website.

The company’s shares, part of the Dow Jones Industrial Average .DJI, were up 0.8 percent at $95.12 in morning trading. They had fallen 4.3 percent on Thursday, wiping out about $2.5 billion of market value and dragging on U.S. equities.

Chief Executive Officer Jim Umpleby said in a statement to employees seen by newspaper Peoria Star that management did not have enough information to provide a full understanding of the authorities’ intent.

“This morning, a number of our colleagues in the Peoria area were surprised when federal authorities arrived to execute a search warrant,” the Thursday statement said. “I’m sorry that we had to experience this today.”

The scrutiny of the huge multinational company’s tax practices is an early test of Umpleby, who took over as CEO at the start of the year.

In January, Caterpillar said it would move about 300 senior executives and staff to Chicago, starting this year. The company cited recruiting and access to global transportation as factors in the decision.

The apparent escalation of the government’s tax dispute with Caterpillar comes amid the Trump administration’s promise to reform corporate taxes and design a system that encourages companies to keep jobs and profits within the United States.

Caterpillar said it believed the search was part of an Internal Revenue Service investigation of profits earned by Swiss parts subsidiary Caterpillar SARL, or CSARL.

That subsidiary was the subject of a 2014 Senate committee report that concluded Caterpillar shifted billions in profits abroad and had deferred or avoided paying $2.4 billion in taxes from 2012. The report criticized Caterpillar’s accountants, PricewaterhouseCoopers, saying its dual roles as auditor and tax consultant represented a conflict of interest.

Caterpillar is contesting an Internal Revenue Service demand that it pay $2 billion in taxes and penalties for profits assigned to the subsidiary between 2007 and 2012.

Caterpillar’s current exposure could rise to $3 billion since the company has continued to file tax returns on the same basis, Morningstar analyst Keith Schoonmaker said.

“We suspect the core of the matter is not ‘new’ news, but rather that it relates to the risk already disclosed in 2014-16,” said Schoonmaker, who lowered his fair value estimate on the stock to $64 from $67.

For a Graphic on Caterpillar’s ownership of CSARL, click: here

(Reporting by Narottam Medhora in Bengaluru; Writing by Nick Zieminski; Editing by Sayantani Ghosh and Lisa Von Ahn)

[theneteconomy]

U.S. authorities raid Caterpillar's Illinois facilities | Reuters

U.S. authorities raid Caterpillar’s Illinois facilities | Reuters

Caterpillar, in a statement issued on Thursday (Mar 2) afternoon, said it believed the search was part of an Internal Revenue Service investigation related to profits earned by a Swiss parts subsidiary, Caterpillar SARL, or CSARL. It said that “while the warrant is broadly drafted, we believe the execution of this search warrant is regarding, among other things, export filings that relate to the…

[wikiweb-blog]

Caterpillar offices raided in probe related...

CHICAGO (AP) — Federal law enforcement officials raided three central Illinois facilities of manufacturer Caterpillar on Thursday as part of an investigation the company said may be related to business with its Swiss subsidiary CSARL. Officials from three federal agencies, some wearing jackets that said “police, federal agent”, searched the Peoria, Illinois, headquarters of Caterpillar, one of the world’s largest makers of construction and other heavy equipment. Facilities in East Peoria and Morton, Illinois, also were raided under a federal warrant, U.S. Attorney’s office spokeswoman Sharon Paul said. “We believe the execution of this search warrant is regarding, among other… Read Full Story

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[swissforextrading]

Caterpillar HQ raided over suspected tax probe into Swiss operation

American law enforcement officials searched the headquarters of heavy machine manufacturer Caterpillar and two other facilities on Thursday as part of a tax investigation linked to the firm’s Swiss subsidiary in Geneva.  In a statement issued on Thursday, Caterpillar said it believed the search was part of an Internal Revenue Service (IRS) investigation related to profits earned by a Swiss parts subsidiary, Caterpillar SARL, or CSARL. The firm said it was cooperating with law enforcement.  A spokeswoman for the US Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East Peoria and Morton, Illinois, but did not say why federal agents raided the three locations.  In a 2014 report the US Senate permanent subcommittee on investigations said that Caterpillar had adopted “a tax strategy that shifted billions of dollars in profits away from the United States and into ... http://www.swissinfo.ch/eng/business/shifting-profits-_caterpillar-hq-raided-over-suspected-tax-probe-into-swiss-operation/43001812?&ns_mchannel=rss&srg_evsource=rss (Source of the original content)

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Caterpillar shares fall as feds conduct tax-related searches USA TODAY

CLOSE

In a press release, Caterpillar spokeswoman Corrie Scott stated the corporate was cooperating with authorities. USA TODAY

File photograph taken in 2012 exhibits earth-shifting tractors and gear made by Peoria, Ill.-based Caterpillar on the firm’s facility in Clinton, Ill.(Photo: Seth Perlman, AP)

Shares of Caterpillar (CAT) fell sharply Thursday as federal authorities searched the U.S. heavy gear big’s Peoria, Illinois headquarters and two close by amenities in what the corporate described as a tax investigation with billions of dollars at stake.

The inventory, one of many 30 elements of the Dow Jones Industrial Average, closed almost four.three% decrease at $94.36 a share.

“Law enforcement is present in various Peoria-area Caterpillar facilities executing a search warrant,” firm spokeswoman Corrie Heck Scott stated in an e mail that said Caterpillar is cooperating with investigators.

Sharon Paul, a spokeswoman for the U.S. Attorney’s Office for the Central District of Illinois, confirmed that federal law enforcement exercise was carried out in Peoria, East Peoria, and Morton.

Investigators executing search warrants represented the Federal Deposit Insurance Corporation’s Office of Inspector General, the IRS’ Criminal Investigation Division and the U.S. Department of Commerce’s, Office of Export Enforcement, Paul confirmed.

After buying and selling markets closed, Caterpillar issued a press release that stated its officers consider the search targeted no less than partially on export filings involving a Swiss subsidiary recognized as CSARL. The firm’s 2014 annual report disclosed that the Securities and Exchange Commission had begun an off-the-cuff investigation of the Swiss subsidiary and had sought preservation of associated data.

Federal search warrants particularly cited data associated to CSARL.

Updating the difficulty in its 2016 annual report filed final month, Caterpillar stated CSARL accounted for a serious quantity of undistributed income from overseas subsidiaries that the corporate had “determined to be indefinitely reinvested outside the U.S.”

Those income taxed in Switzerland, the place enterprise levies are sometimes far decrease than the 35% U.S. prime company price. However, the IRS has proposed to tax income earned from sure machine and different elements transactions by CSARL in tax years 2007 to 2012 at greater U.S. charges, the corporate disclosed.

“We are vigorously contesting the proposed increases to tax and penalties for these years of approximately $2 billion,” Caterpillar stated within the 2016 submitting. “We believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines.”

The submitting additionally predicted that a ultimate determination on the difficulty wouldn’t have a cloth hostile impact on Caterpillar’s monetary place, liquidity or operations outcomes.

The challenge was spotlighted by a 2014 U.S. Senate report that stated Caterpillar prevented $2.four billion in U.S. taxes by reaching a company cope with Switzerland and shifting income to the CSARL subsidiary. The settlement transferred the corporate’s worldwide elements distribution division to the Swiss-based unit, in accordance with the report by the employees of the then-Democratic majority of the Senate Permanent Subcommittee on Investigations.

Despite the estimated $eight billion revenue shift, no Caterpillar personnel or enterprise actions moved from the U.S. to Switzerland, and a lot of the agency’s elements enterprise remained within the U.S., the report stated.

Caterpillar officers stated on the time that the corporate’s efficient revenue tax fee averaged roughly 29%. The firm added that it “takes very seriously its obligation to comply with the tax laws enacted by the Congress, by the states” and different jurisdictions.

Follow USA TODAY reporter Kevin McCoy on Twitter: @kmccoynyc

Read or Share this story: http://usat.ly/2lEcbSE

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The post Caterpillar shares fall as feds conduct tax-related searches – USA TODAY appeared first on Utah Business Lawyer.

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Caterpillar Legal Woes Could Hurt Outlook

Dow component Caterpillar Inc. (CAT) fell more than 4% on Thursday in reaction to reports that Federal law enforcement authorities had exercised search warrants at three Illinois facilities. The company later admitted that business practices at its Swiss subsidiary CSARL might be driving the investigation. This follows a 2014 U.S. Senate staff report alleging the company had avoided paying $2.4-billion in U.S. taxes since 2000 by shifting profits into Switzerland.

It’s hard to ignore the connection between the warrants and President Trump’s pledge to punish companies avoiding U.S. taxes through overseas accounting schemes. Friday comments by new Commerce Secretary Wilbur Ross seemed particularly well-informed about the raid, which took place in former President Obama’s home state, which Hilary Clinton won in the November election. Whatever the cause, the news could impact the company’s long-term technical outlook.

CAT Long-Term Chart (1993-2017)

Caterpillar rallied above the 1987 high at $9.34 (post three splits) in 1993 and entered a strong uptrend that ended at $30.82 during the 1997 Asian contagion. That level marked horizontal resistance, denying three rally attempts into a 2003 breakout that caught fire, lifting in a powerful uptrend that continued into the 2006 high at $82.03. It then eased into a rising channel, posting nominally higher highs into the July 2007 peak at $87.00.

The stock broke channel support in September 2008 and plunged with world markets, coming to rest at a 6-year low in the low 20s in March 2009. The subsequent recovery wave unfolded at the same trajectory as the prior decline, completing a V-shaped rally into the 2007 high in December 2010. It broke out into 2011, lifting quickly to 116.55 and topping out with world commodity markets. A steep decline into the mid-60s got bought in the fourth quarter of 2011, giving way to a strong bounce that stalled just 40-cents above the prior high.

The 2011 high and low contained a trading range that persisted into January 2016 when aggressive sellers broke support at $67.54 and dropped the stock into the upper-50s. That plunge signaled a climax event, ahead of a recovery wave that remount the broken price level two months later. Upside into January 2017 reached within 17-points of long-term range resistance, ahead of mixed price action into this week’s volatile decline.

The monthly Stochastics oscillator lifted into an overbought signal in September 2016, marking the first trip to that level since the first half of 2014. The indicator has ground sideways to lower since that time but still hasn’t crossed into a new long-term sell cycle. When it does, market players can expect at least six to nine months of weak price action, characterized by whipsaws and lower prices.

CAT Short-Term Chart (2015–2017)

The recovery wave that started in January 2016 reached the .786 retracement of the 2015 into 2016 selling wave in January 2017, with the recent reversal raising odds for a lower high within the long-term top or corrective pattern. However, it continues to hold support within a shallow rising channel that looks similar to the 2007 top. This week’s news-driven decline ended right at channel support, which has roughly aligned with the Nov. 9 breakaway gap between $85 and $89. If that gap fills, it should also mark the end of the year-long uptrend.

On Balance Volume (OBV) rolled over after the 2011 top and entered a long-term distribution wave that ended in early 2016. However, subsequent accumulation peaked in April, months before the recent rally to a 2-year high. This conflict signals a strongly bearish divergence, with recent weakness having the power to drop the indicator through the 2016 low. Price will surely follow if that happens, opening the door to a slide back into the 60s.

The Bottom Line

Caterpillar sold off to weekly range support this week after the Feds exercised search warrants at three Illinois facilities. Overseas tax avoidance could be driving this investigation, in line with the new president’s determination to reform the corporate tax structure.

<Disclosure: the author held no positions in aforementioned stocks at the time of publication.>

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AVIS DE MODIFICATION

AVIS DE MODIFICATION

RESTAURANT 19 °CSARL

https://news.xcentrik.online/inclassable/avis-de-modification-124-50854/

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U.S. authorities raid Caterpillar's Illinois facilities | Reuters

By Timothy Mclaughlin | CHICAGO

CHICAGO Federal law enforcement officials conducting a criminal probe of heavy machinery manufacturer Caterpillar Inc searched three of its facilities on Thursday, prompting a sharp sell-off in the company’s stock.

A spokeswoman for the U.S. Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East Peoria and Morton, Illinois, but did not say why agents raided the three facilities.

Caterpillar, in a statement issued on Thursday afternoon, said it believed the search was part of an Internal Revenue Service investigation related to profits earned by a Swiss parts subsidiary, Caterpillar SARL, or CSARL.

It said that “while the warrant is broadly drafted, we believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter first disclosed in Caterpillar’s Form 10-K filed on February 17, 2015, and updated in Caterpillar’s most recent Form 10-K filed with the SEC on February 15, 2017.”

Agencies involved in the search included the IRS’ Criminal Investigation Division, the U.S. Department of Commerce’s Bureau of Industry and Security’s Office of Export Enforcement, and the Federal Deposit Insurance Corp.’s Office of Inspector General, Paul said.

Officials at the agencies could not be reached for comment.

Caterpillar shares fell 4.3 percent to close at $94.36 on the New York Stock Exchange after trading as low as $92.84.

IRS SEEKS $2 BLN; CATERPILLAR CONTESTS

The apparent escalation of the government’s tax dispute with Caterpillar comes as the Trump administration and leaders in Congress have said they want to launch a broad overhaul of the corporate tax code, lowering rates and designing the system to encourage companies to keep jobs and profits within the United States.

Caterpillar has also had a prominent place in the Trump administration’s effort to promote U.S. manufacturing. The company’s outgoing chief executive, Douglas Oberhelman, met with President Donald Trump at the White House last week.

Caterpillar is fighting an Internal Revenue Service demand that the company pay $2 billion in taxes and penalties for profits assigned to its Swiss parts distribution subsidiary, according to filings with the Securities and Exchange Commission. That subsidiary was also the subject of a 2014 Senate committee report that concluded Caterpillar shifted billions in profits abroad and had $2.4 billion in taxes deferred or avoided from 2012.

“As a result of those licensing and servicing agreements,

over the next thirteen years from 2000 to 2012, Caterpillar shifted to CSARL in Switzerland taxable income from its non-U.S. parts sales totaling more than $8 billion, and deferred or

avoided paying U.S. taxes totaling about $2.4 billion,” the report said.

It said the arrangement resulted in Caterpillar paying an effective tax rate of only 4 percent to 6 percent.

Caterpillar, in its 2016 annual report, said it is “vigorously contesting” the IRS demand. “We believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines,” it stated.

The Senate committee report also criticized Caterpillar’s accountants, PwC, saying that the firm’s roles as auditor and tax consultant represented a conflict of interest. PwC on Thursday said it had no comment.

In testimony before the Senate in 2014, PwC partner Thomas Quinn said the firm believed that its “tax advice and Caterpillar’s tax positions were correct under applicable tax laws. In sum, PwC’s provision of tax services to Caterpillar as our audit client was entirely appropriate.”

Caterpillar also disclosed in its annual report that it had received grand jury subpoenas from the U.S. District Court for the Central District of Illinois seeking documents and information related to the movement of cash among U.S. and non-U.S. subsidiaries, and the purchase and resale of replacement parts by Caterpillar Inc. and non-U.S. Caterpillar subsidiaries, including Caterpillar SARL. Caterpillar said it is cooperating with the investigation and did not believe it would have a material impact on its finances.

PARTS BUSINESS; TAXES

The facility in Morton, according to the company’s website, is responsible for receiving and shipping replacement parts to parts facilities and Caterpillar dealers worldwide.

Caterpillar reported sales fell 18 percent in 2016 to $38.5 billion and since late 2015 it has shrunk its workforce by more than 16,000 employees and consolidated or closed 30 facilities. Caterpillar cut 12,300 jobs in 2016, including 7,700 in the United States.

It said it was considering closing two more major production facilities, including one in Aurora, Illinois, and also announced it was moving its corporate headquarters from Peoria to Chicago this year.

Last week in Missouri, U.S. Vice President Mike Pence toured Fabick CAT, a family-owned company that is one of the largest U.S. distributors of Caterpillar equipment. “You are the strength in the American economy, and you’re going to lead an American comeback,” he told workers there.

Pence said the Trump administration wants to simplify the U.S. tax code. “I’ll guarantee there isn’t anyone here who can make sense of America’s tax code, including me. There’s an old joke that says the tax code is about 10 times the size of the Bible but with none of the good news,” he said.

“Our country’s tax system these days penalizes success. It makes it far too hard for hardworking people and small businesses to achieve the American Dream.”

(Reporting by Timothy Mclaughlin, PJ Huffstutter and Tracy Rucinski in Chicago, David Shepardson in Washington and Joe White in Detroit, writing by Daniel Grebler; editing by Diane Craft)