Friday, December 8, 2017

The Wall Street Journal: Caterpillar rail unit pleads guilty to bogus ...

A unit of Caterpillar Inc. admitted that it cheated customers by performing unnecessary repairs to their railcars and agreed to plead guilty to dumping brake shoes and other parts into the ocean to hide evidence, according to court documents. United Industries LLC, part of Caterpillar's Progress Rail Services unit, agreed to pay a criminal fine of $5 million fine as well as a total of $20 million in restitution to three railcar-owning companies: TTX Co., Greenbrier Co.

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