SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Navistar International Corp. – NAV
NEW YORK, NY / CRWEPRESSRELEASE / July 27, 2015 /Pomerantz LLP is investigating claims on behalf of investors of Navistar International Corp. (“Navistar” or the “Company”) (NYSEMKT: NAV). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Navistar and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 14, 2015, the U.S. Department of Justice on behalf of the U.S. Environmental Protection Agency (“EPA”), filed a lawsuit against the Company and Navistar, Inc. in the U.S. District Court for the Northern District of Illinois alleging that during 2010 the Company introduced into commerce approximately 7,750 heavy-duty diesel engines that did not meet the EPA’s emissions standards applicable to 2010 engines, resulting in violations of the federal Clean Air Act. The lawsuit requests injunctive relief and the assessment of civil penalties of up to $37,500 per day for each violation.
On this news, Navistar shares fell as much as $0.47, or 2.33%, to close at $19.67 on July 15, 2015.
On July 27, 2015, Goldman Sachs analyst Jerry Revich and team lowered their view of the machinery sector and downgraded Navistar from Neutral to Sell.
On this new, Navistar shares fell $0.57, or more than 3.23%, to $17.09 on intraday trading on July 27, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.