March 2, 2020 / 4:36 PM / a month ago

Former Navistar CEO to pay $500,000 over 2016 charges of misleading investors -SEC

WASHINGTON, March 2 (Reuters) - The Securities and Exchange Commission on Monday said the former chief executive officer of Illinois-based Navistar International Corporation will pay $500,000 to resolve charges of misleading investors.

The SEC charged Daniel Ustian and Navistar in 2016 with misleading investors about Navistar’s development of an advanced technology truck engine that could satisfy U.S. pollution standards, the regulator said. Navistar International Corp agreed in 2016 to pay a $7.5 million fine to the charges. (Reporting by Chris Prentice, Editing by Franklin Paul)

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