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March 31, 2016

Posted  May 2, 2016

Commercial vehicle manufacturer Navistar International Corp. will pay $7.5 million to settle charges that it misled investors about its development of an advanced technology truck engine that could be certified to meet U.S. standards.  Separately, the SEC has filed charges in federal court in the Northern District of Illinois against Navistar’s former CEO Daniel Ustian.  The SEC alleges that Navistar and Ustian failed to fully disclose the difficulties Navistar was having gaining EPA certification that its truck engine, designed using “exhaust-gas-recirculation” technology, met stricter Clean Air Act standards which took effect in 2010.  SEC

Tagged in: Financial and Investment Fraud,