Deere & Company under Investor Investigation in connection with possible Foreign Bribery

Aug. 17, 2011 - PRLog -- An investigation on behalf of current long term investors in Deere & Company  was announced after a media report cited people familiar with the matter that Deere & Company is under investigation by the U.S. Securities and Exchange Commission for possible violations of the foreign bribery law.

If you are a current long term investor in Deere & Company , and/or if you have information relating the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 11, 2011, a media report cited two people familiar that said that Deere & Company is under investigation by the SEC for possible violations of the foreign bribery regarding payments made in Russia and nearby countries.

The investigation by a law firm on behalf of current long term investors in Deere & Company  concerns whether certain officer and directors at Deere & Company breached their fiduciary duties and can be held liable for possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), which prohibits companies from making improper payments to foreign officials for the purpose of obtaining or keeping business.
Deere & Company reportedly told another media outlet that "the SEC has informed Deere that this is a nonpublic fact-finding inquiry to determine whether there have been any violations of the federal securities laws, and that the inquiry and document request do not mean that the SEC has concluded that Deere has broken the law".

Deere & Company’s 12months Total Revenue fell from $28.43billion reported on Oct. 31, 2008 to $23.11billion reported on Oct. 31, 2009 and then increased to $26billion reported on Oct. 31, 2010. Its Net Income over the same time frame fell from $2.05billion to $873.50million and then rebounded to $1.86billion.

Shares of Deere & Company (Public, NYSE-DE) rose from as low as $25.51 in March 09 to as high as $98.60 on April 1, 2011.

However, since April 1 NYSE DE shares fell to under $70 on August 9, 2010 and traded on August 11, at $69.98 per share.

Those who are current long term investors in Deere & Company (Public, NYSE- DE), and/or those who have information relating the investigation including former employees and/or whistleblowers, have certain options and should contact the Shareholders Foundation by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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