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CATERPILLAR VOLUNTARILY AGREES TO SETTLEMENT ORDER WITH SEC

 CATERPILLAR VOLUNTARILY AGREES TO SETTLEMENT ORDER WITH SEC
 PEORIA, Ill., April 1 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) confirmed today that it has voluntarily agreed to a settlement order with the Securities and Exchange Commission concerning its 1989 and 1990 disclosures. After investigation, the commission did not charge the company with scienter, intentional wrongdoing or fraud. In the order, the commission did allege that the company violated the reporting provisions of Section 13(a) of the Securities Exchange Act of 1934 by inadequately discussing the company's Brazilian operations in the management discussion and analysis portions of its 1989 form 10-K and first quarter 1990 form 10-Q. In preparing those forms, the company relied on its staff and the opinions of accounting and legal professionals.
 Under the settlement, the company agreed to comply with the requirements of section 13(a) in the future. As required by the commission's rules concerning any settlement, the company neither admitted nor denied the facts and allegations in the settlement order. The company settled to avoid the costs of protracted litigation and the diversion of management time that would accompany litigation with the commission.
 -0- 4/01/92
 /CONTACT: Terry Thorstenson of Caterpillar corporate public affairs, 309-675-4873/
 (CAT) CO: Caterpillar Inc. ST: Illinois IN: MAC SU:


TQ -- NY075 -- 3963 04/01/92 14:52 EST
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Publication:PR Newswire
Date:Apr 1, 1992
Words:218
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