Key Developments: Navistar International Corp (NAV)
37.47USD
20 May 2013
$-0.78 (-2.04%)
$38.25
$38.22
$38.28
$37.45
1,032,947
2,023,278
$38.81
$18.17
Latest Key Developments (Source: Significant Developments)
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Navistar International Corp
The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of a class comprising all purchasers of the common stock of Navistar International Corp between November 3, 2010 and August 1, 2012, inclusive. Full Article
Finkelstein & Krinsk LLP Files Class Action Lawsuit against Navistar International Corp
Finkelstein & Krinsk LLP announced that it has filed a class action securities lawsuit in the United States District Court for the Northern District of Illinois on behalf of purchasers of Navistar International Corp (Navistar) common stock during the period of November 3, 2010 through August 1, 2012 (the Class Period). Full Article
Labaton Sucharow LLP Files Class Action Lawsuit on Behalf of Investors in Navistar International Corp
Labaton Sucharow LLP announced that it filed a class action lawsuit on April 9, 2013 in the U.S. District Court for the Northern District of Illinois. The lawsuit was filed on behalf of persons or entities who purchased or otherwise acquired the publicly-traded securities of Navistar International Corp (Navistar or the Company) between June 9, 2010 and August 1, 2012, inclusive (the Class Period). The action charges Navistar and certain of its officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. The complaint alleges that, throughout the Class Period, Navistar made false and misleading statements, and concealed material information relating to the Company's engine design and development efforts, warranty and recall expenses, and details of various assets and liabilities, including deferred tax assets. Full Article
Law Offices of Todd M. Garber Announces Investigation Of Navistar International Corp
The Law Offices of Todd M. Garber announced that it is investigating potential claims against Navistar International Corp concerning possible violations of federal securities laws. Navistar through its subsidiaries, manufactures and sells commercial and military trucks, buses, diesel engines and recreational vehicles, and provides service parts for trucks and trailers worldwide. The investigation is related to allegations that during the foregoing period the Company and certain of its executive officers issued false and misleading statements or failed to disclose that: (1) Navistar’s attempted methods to achieve compliance with EPA guidelines in truck manufacturing had failed and the Company would need to revise its plan to meet guidelines, incurring enormous costs to the Company; (2) the Company did not have engines ready to meet the 2010 EPA standards; and (3) Navistar’s filings with the Securities and Exchange Commission contained incomplete and misleading disclosures, including statements about the costs of recalls and details of various debts. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Navistar International Corp
Ryan & Maniskas, LLP announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of common stock of Navistar International Corp (Navistar or the Company) during the period between November 3, 2010 and August 1, 2012, inclusive (the Class Period). The Complaint alleges that throughout the Class Period the Company issued materially false and misleading statements regarding the Company's business and financial prospects. Navistar through its subsidiaries, manufactures and sells commercial and military trucks, buses, diesel engines and recreational vehicles, and provides service parts for trucks and trailers worldwide. The Complaint alleges that throughout the Class Period the Company misrepresented and/or failed to disclose that: Navistar's attempted methods to achieve compliance with EPA guidelines in truck manufacturing had failed and Navistar would be forced to revise its plan to meet guidelines, incurring enormous costs to the Company; Navistar did not have engines ready to meet the 2010 EPA standards; and Navistar's filings with the Securities and Exchange Commission contained incomplete and misleading disclosures, including statements about the costs of recalls and details of various debts. Full Article
Morgan & Morgan Announces the Filing of Securities Fraud Class Action Against Navistar International Corp
Morgan & Morgan announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of common stock of Navistar International Corporation (Navistar) during the period between November 3, 2010 and August 1, 2012, inclusive (Class Period). The Complaint alleges that throughout the Class Period the Company issued materially false and misleading statements regarding the Company's business and financial prospects. Full Article
Briscoe Law Firm and Powers Taylor, LLP Announce Investigation Of Navistar International Corp
Briscoe Law Firm and Powers Taylor, LLP announced that a federal class action complaint was recently filed against Navistar International Corporation (Navistar) and certain of its Officers and Directors for potential securities violations between November 3, 2010 and August 1, 2012 (Class Period). Based upon these allegations, the firms are investigating potential legal claims against the officers and Board of Directors of Navistar International Corporation. In the class action complaint, Navistar and certain of its Officers and Directors were charged with violating provisions of the Securities Exchange Act of 1934. Notably, the complaint alleges that defendants made numerous misrepresentations, including that Navistar would be forced to revise its plan to meet the EPA guidelines in truck manufacturing, which would create an immense cost to the Company; Navistar did not meet the 2010 EPA standards for their engines; the Company's disclosures in their SEC filings were incomplete and misleading, including statements about the costs of recalls and details of various debts. According to the complaint, when the truth came out regarding the Company's true financial condition and future prospects, the Navistar share price fell over 69% from its Class Period high. Full Article
Navistar International Corp Announces $300 Million Tack On Offering Of 8.25% Senior Notes
Navistar International Corp announced that it plans to issue, $300 million of 8.25% senior notes due 2021. The notes will be issued as additional notes under the indenture pursuant to which the Company previously issued $1 billion aggregate principal amount of 8.25% senior notes due 2021 (the existing senior notes), of which $900 million remains outstanding. The notes will be treated together with the existing senior notes as a single series of debt securities, and will have the same terms as and be fungible with the existing senior notes. The Company intends to use the net proceeds from the offering to repay a portion of senior secured term loan facility in connection with proposed amendment of that facility. J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Full Article
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Navistar International Corp
Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of a class (the Class) comprising all purchasers of the common stock of Navistar International Corporation (Navistar or the Company) between November 3, 2010 and August 1, 2012, inclusive (the Class Period). The Complaint alleges that throughout the Class Period the Company issued materially false and misleading statements regarding the Company`s business and financial prospects. The Complaint alleges that throughout the Class Period the Company misrepresented and/or failed to disclose that: Navistar`s attempted methods to achieve compliance with EPA guidelines in truck manufacturing had failed and Navistar would be forced to revise its plan to meet guidelines, incurring enormous costs to the Company; Navistar did not have engines ready to meet the 2010 EPA standards; and Navistar`s filings with the Securities and Exchange Commission contained incomplete and misleading disclosures, including statements about the costs of recalls and details of various debts. Full Article
Lifshitz Law Firm Announces Investigation of Navistar International Corp
Lifshitz Law Firm announced that a class action suit was filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Navistar International Corp (Navistar or the Company) between November 3, 2010 and August 1, 2012 (Class Period). The Complaint alleges defendants misrepresented and/or failed to disclose that Navistar's attempted methods to achieve compliance with 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; Navistar did not have engines ready to meet the 2010 EPA standards; and Navistar's filings with the SEC contained incomplete and misleading disclosures including statements about the costs of recalls and details of various debts. The firm is investigating legal claims against the officers and Board of Directors of Navistar during the Class Period. Full Article
RPT-Fitch Affirms Navistar's IDR at 'CCC' & Upgrades Sr. Unsecured to 'CCC'; Outlook Positive
March 21 () - (The following statement was released by the rating agency) Fitch Ratings has affirmed the Issuer Default Ratings (IDR) for Navistar International Corporation (NAV), Navistar, Inc. and Navistar Financial Corporation (NFC) at 'CCC'. In addition, Fitch has upgraded NAV's senior unsecured notes to 'CCC' from 'CCC-' and NFC's senior secured bank credit facilities to 'CCC' from 'CCC-', based on modestly improved recovery prospects. Fitch has also affirmed the rating for Navistar,
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