Basden & Ivie, PC announced today the firm has been retained to investigate claims of fraud and fraudulent inducement of fleet and operator customers by Navistar International Corporation (NYSE: NAV) and its agents and subsidiaries. Specifically, the Firm will be looking into claims related to clients who purchased MAXXFORCE EGR-equipped engines prior to the announcement of the future adoption of ICT+ technology (In-Cylinder Technology Plus).
Navistar International Corporation manufactures and sells commercial and military trucks, buses, diesel engines, recreational vehicles, and chassis, as well as provides service parts for trucks and trailers. On July 6, 2012, Navistar announced in a company press release that it would be introducing its next generation, clean engine solution – In-Cylinder Technology Plus (ICT+) – to meet 2010 U.S. Environmental Protection Agency (EPA) emissions regulations. Prior to the announcement, Navistar had been the sole U.S. adherent to a strategy involving only exhaust-gas recirculation (EGR) technology for heavy-duty truck engines, and had sold thousands of the engines installed in various models of the International truck range.
“In this economic environment, transparency in all areas of operations and management is critical to ensure investors, shareholders, and customers are informed enough to make considered decisions for their future,” said Elizabeth Basden, managing partner of Basden & Ivie, PC. “The Firm’s investigation of Navistar scrutinizes the company’s continued solicitation of customers and investors in the face of industry and governmental consensus regarding the problems with Navistar’s engine technology.”
About Basden & IvieBasden & Ivie, PC is a Dallas-based business law and litigation firm that specializes in financial transaction and corporate malfeasance litigation. For more information, call (972) 381-8700 or visit www.BasdenIvie.com.
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