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April 25, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC remind investors that they have until
May 20, 2013 to file lead plaintiff applications in a securities class action lawsuit against Navistar International Corporation (NYSE: NAV), if they purchased the Company's securities during the period between
November 3, 2010 and
August 1, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of
August 2, 2012, Shares of Navistar fell
$3.33 or approximately 13% to close at
$21.44 after the company disclosed a Securities & Exchange Commission ("SEC") inquiry. The company disclosed that the SEC has launched a formal investigation of various accounting and disclosure matters dating back to November 2010. The Company also announced it was withdrawing its full year fiscal 2012 guidance until the release of its third fiscal quarter 2013 results in September.
The Complaint alleges that throughout the Class Period the Company misrepresented and/or failed to disclose that: (i) Navistar's attempted methods for compliance with Environmental Protection Agency (EPA) guidelines had failed and Navistar would be forced to revise its plan to meet guidelines, incurring enormous costs to the Company; (ii) Navistar did not timely have engines available to meet the 2010 EPA standards; (iii) Navistar's filings with the Securities and Exchange Commission (SEC) contained incomplete and misleading disclosures, including statements about the costs of recalls and details of various debts; and (iv) based on the foregoing, the defendants lacked a reasonable basis for their positive statements about the Company and its revenue outlook.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact
Peretz Bronstein of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email
firstname.lastname@example.org. Those who inquire by email are encouraged to include their mailing address and telephone number. May 20, 2013 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.