Quad Cities-based Deere and Company is getting some welcome legal news.
The ag and construction equipment maker based in Moline, Illinois, says it has received a letter from the U.S. Securities and Exchange Commission.
Deere says the SEC’s Enforcement Division has completed an investigation and won’t pursue any enforcement action against Deere.
News media reported last August that Deere was under investigation concerning alleged payments to officials in Russia and surrounding countries.
Deere says it fully cooperated with the SEC during the investigation and is pleased with the outcome.
The company also says it remains committed to doing business with the highest integrity.
Deere has plants in Iowa and is the state’s largest manufacturing employer.
By Phil Roberts, Davenport