November 1, 2016 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
May 25, 2016 - The court preliminarily approved the settlement.

May 13, 2016 - Parties filed a stipulation of settlement.

December 1, 2015 - The parties reached a settlement in principle.

July 10, 2015 - The court granted in part and denied in part defendants' motion to dismiss.

September 23, 2014 - The defendants filed a motion to dismiss.

August 22, 2014 - The lead plaintiff filed an amended complaint.

July 22, 2014 - The court granted the defendants motions to dismiss and granted plaintiff leave to file a second amended complaint.

December 17, 2013 - The defendants filed motions to dismiss.

October 10, 2013 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Navistar International Corporation (NYSE: NAV) common shares between June 9, 2009 and August 1, 2012. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between June 9, 2009 and August 1, 2012.

September 25, 2013 - A plaintiff filed a notice of voluntary dismissal, dismissing its claims without prejudice.

July 30, 2013 - The lead plaintiff and lead counsel were appointed.

May 23, 2013 - All cases were consolidated.

May 20, 2013 - Lead plaintiff motions were filed.

March 19, 2013 - An investor in shares of Navistar International Corporation (NYSE: NAV) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Navistar International Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 3, 2010 and August 1, 2012.

According to the complaint the plaintiff alleges on behalf of purchasers of Navistar International Corporation (NYSE: NAV) common stock during the period between November 3, 2010 and August 1, 2012, that Navistar International Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between November 3, 2010 and August 1, 2012 materially false and misleading statements concerning the Company’s financial condition and future business prospects.

Navistar International Corporation reported that its Total Revenue declined from over $13.95 billion for the 12 months period that ended on October 31, 2011 to over $12.94 billion for the 12 months period that ended on October 31, 2012 and that its Net Income of over $1.72 billion for the 12 months period that ended on October 31, 2011 declined to a Net Loss of $3.01 billion for the 12 months period that ended on October 31, 2012.

Prior to November 3, 2010, the U.S. Environmental Protection Agency (“EPA”) had imposed new regulations on 2010 model trucks that included strict emissions standards. The two primary engine technologies that emerged to meet the new standards were Exhaust Gas Recirculation (“EGR”) and Selective Catalytic Reduction (“SCR”).

The plaintiff claims that Navistar International Corporation chose the EGR technology, not the SCR technology its competitors were using to meet the new standards, and then represented that the new EGR technology was compliant and the vehicles were ready for sale.

According to the complaint after November 3, 2010 it was clear this product differentiation strategy was not working.

The plaintiff claims that despite the $700 million Navistar International Corporation had spent on developing its EGR engine, Navistar International Corporation had not even applied for certification of the EPA emissions standard by November 3, 2010 and as a result Navistar International Corporation allegedly faced technological, legal and liquidity issues which threatened its business.

The plaintiff says that in order to conceal this fact from Navistar International Corporation’s investors and customers, defendants repeatedly stated between November 3, 2010 and August 1, 2012 that Navistar International Corporation had indeed achieved an engineering milestone and had an EPA-compliant EGR engine ready to be certified and as a result of the defendants’ statements, the price of Navistar International Corporation common stock traded at inflated prices between November 3, 2010 and August 1, 2012, reaching a high of $70.17 per share on April 26, 2011.

Then in July 2012, so the plaintiff, Navistar International Corporation admitted its failure to achieve an EPA-compliant EGR engine and announced that in order to remain in business it was adopting the same SCR technology its competitors had been using.

On August 2, 2012, Navistar International Corporation issued a press release announcing that is was withdrawing its full-year fiscal 2012 guidance until the release of its third fiscal quarter 2012 results in September.

Furthermore, Navistar International Corporation disclosed that it received a letter of inquiry from the Securities and Exchange Commision (“SEC”) involving an investigation of various accounting and disclosure matters dating back to November 2010.

Shares of Navistar International Corporation (NYSE: NAV) dropped from a closing price of $24.77 per share on August 1, 2012 to $21.44 per share on August 2, 2012.

In fact, Navistar International Corporation (NYSE: NAV) shares declined from slightly over $70 in April 2011 to as low as $18.51 per share in October 2012.