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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Navistar International Corporation

Stocks in this article: NAV

Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of Navistar International Corporation (NYSE: NAV )?
  • Did you purchase your shares before November 3, 2010, or between November 3, 2010 and August 1, 2012, inclusive?
  • Did you lose money in your investment in Navistar International Corporation?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities that purchased the common stock of Navistar International Corporation (“Navistar” or the “Company”) (NYSE: NAV) between November 3, 2010 and August 1, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Navistar during the Class Period, or purchased shares prior to the Class Period and still hold Navistar, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/navistar-international-corporation-nav.

Navistar is an international manufacturer of International® brand commercial and military trucks, IC Bus™ brand buses, MaxxForce® brand diesel engines, and recreational vehicles (“RV”) under the Monaco® RV family of brands, as well as a provider of service parts for all makes of trucks and trailers. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (a) Navistar’s attempted methods to achieve compliance with United States Environmental Protection Agency (“EPA”) guidelines in truck manufacturing had failed and were not working, and Navistar would be forced to revise its plan to meet guidelines, incurring enormous costs to the Company; (b) Navistar did not have engines ready to meet the 2010 EPA standards; (c) Navistar’s filings with the United States Securities and Exchange Commission (“SEC”) contained incomplete and misleading disclosures, including statements about the costs of recalls and details of various debts; and (d) based on the above, defendants lacked a reasonable basis for their positive statements about the Company and its revenue outlook. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

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