Zamansky & Associates LLC Investigates Caterpillar’s 401(K) Plan for Possible ERISA Violations Relating to the Alleged ERA Mining Fraud

New York, New York (PRWEB) June 26, 2013

Zamansky & Associates LLC announces that it has commenced an investigation over Caterpillar Inc.’s 401(k) Plan. According to the Plans Annual Report filed with the SEC on June 24, 2012, available at, there was $ 3 billion invested in company stock. The investigation concerns whether there were violations of the Employee Retirement Income Security Act (ERISA) by the Plan fiduciaries, in connection with the EMA Mining acquisition.

On January 18, 2013, Caterpillar issued a press release announcing that it had “uncovered deliberate, multi-year, coordinated accounting misconduct concealed at [ERA Mining Machinery Limited],” a company which it acquired in June 2012 through a tender offer. As a result, Caterpillar announced that it was taking “a non-cash goodwill impairment charge of approximately $ 580 million, or $ 0.87 per share,” for the fourth quarter.

“Caterpillar employees who purchased company stock in the 401(k) Plan after the ERA acquisition but before news of the accounting fraud, may have done so at artificially inflated prices,” according to stock fraud attorney Jacob Zamansky. The investigation concerns whether the Plan fiduciaries breached duties owed to Caterpillar employees through the due diligence failures which resulted in this announcement and write-down, according to Zamansky.

What Former or Current Caterpillar Employees Can Do

If you are a Caterpillar employee or former employee who purchased stock from June 2012 through January 2013 through the 401(K) Plan, and would like to discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.

To learn more about Zamansky, please visit our website,

About Zamansky & Associates LLC

Zamansky & Associates LLC is one of the leading securities fraud law firms specializing in securities class actions and securities arbitration, and ERISA class action litigation. We are stock fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.


Zamansky & Associates, LLC

50 Broadway – 32nd Floor

New York, NY 10004

Jake Zamansky, 212-742-1414


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