NEW YORK, May 17, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Navistar International Corporation (NYSE:NAV) stock between November 3, 2010 and August 1, 2012.
For more information, click here: http://zlk.9nl.com/navistar-international-nav/.
According to the complaint, defendants concealed from the investing public, during the class period, that: (a) Navistar's attempts to achieve compliance with EPA guidelines in truck manufacturing had failed and would be forced to revise its plan to meet said guidelines, incurring enormous costs to the Company; (b) Navistar did not have engines ready to meet the 2010 EPA standards; and (c) Navistar's SEC filings contained incomplete and misleading disclosures, including statements about the costs of recalls and various debts.
In July 2012, Navistar admitted it failed to achieve an EPA-compliant EGR engine and announced that it was adopting the same SCR technology its competitors had been using in order to remain in business. On August 2, 2012, the Company disclosed receipt of a formal letter of inquiry from the SEC concerning an investigation of various accounting and disclosure matters dating back to November 2010. On this news, shares of Navistar common stock fell from $24.77 per share on August 1, 2012 to $21.44 the following day.
If you suffered a loss in Navistar you have until May 20, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/navistar-international-nav/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP