NEW YORK, Dec. 5, 2019 /PRNewswire/ -- WeissLaw LLP, a
national class action and shareholders' rights law firm with
offices in New York, California and Georgia, announces an investigation of
Navistar International Corporation (NYSE: NAV) ("Navistar," or the
"Company").
If you own Navistar shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
Or please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
The investigation focuses on possible breaches of fiduciary duty
and violations of federal securities laws by the Navistar Board of
Directors for the alleged dissemination of materially false and
misleading information in connection with the Company's
operations. Specifically, according to a whistleblower suit
that was recently unsealed, the Company's senior executives
participated in a long-running and pervasive scheme to defraud
the United States government out
of nearly $1.3 billion in the sale of
Mine Resistant, Ambush-Protected ("MRAP") vehicles needed in
Afghanistan and Iraq. The
U.S. government partially intervened in the case in September 2019 noting that conservatively,
"approximately $1.28 billion of the
$9 billion committed by the
government was paid to [the Company]" on an inflated
basis.
As part of this scheme, the Company allegedly violated the False
Claims Act by forging invoices, catalogue prices, and other data
during the contract negotiations for the MRAP vehicles.
Furthermore, Navistar's executive leadership - including its former
President and Vice President - allegedly supported and participated
in this extensive fraud.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP