Lawsuit Overview
Settlement Overview
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May 25, 2011 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
January 25, 2011 - The court preliminarily approved the settlement.
January 14, 2011 - Parties filed a stipulation of settlement.
July 28, 2009 - The court granted the motion to dismiss of one defendant and denied the motion to dismiss of another.
July 7, 2008 - The defendants filed motions to dismiss.
May 8, 2008 - The lead plaintiffs filed a consolidated complaint.
March 18, 2008 - The lead plaintiffs and lead counsel were appointed.
March 13, 2008 - An additional lead plaintiff motion was filed.
February 15, 2008 - Lead plaintiff motions were filed.
January 7, 2008 - Another investor filed a complaint in the U.S. District Court for the Northern District of Illinois on behalf of investors who purchased Navistar International Corporation (NYSE: NAV) common shares between February 14, 2003 and July 17, 2006.
December 13, 2007 - 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.
The complaint alleges certain of Navistar International Corporation's current and former senior management and Deloitte & Touche LLP, Navistar International Corporation’s former outside auditing firm. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that the defendants knowingly and fraudulently misrepresented Navistar International Corporation’s financial results between February 14, 2003 and July 17, 2006. When the truth began to be revealed to the market, beginning on December 14, 2005 and continuing through July 17, 2006, Navistar’s stock price fell from $30.28 to $20.95, a 30% drop.