"What we discovered was deliberate, multiyear, coordinated accounting misconduct at Siwei," he said. "It was executed by several senior managers at Siwei for the purpose of inflating sales, understating costs, and over-reporting profit, and it included fabricated documentation designed to cover their tracks."He said Caterpillar is "considering all options to recover our losses and hold those responsible accountable for their wrongdoing." He said the company wouldn't comment further on "pending or contemplated litigation."
Caterpillar 4Q Earnings Fall By Half
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