Yesterday, the SEC announced that it has filed an administrative proceeding against Navistar International Corp. alleging that Navistar misled investors when it “failed to fully disclose the company’s difficulties obtaining Environmental Protection Agency (EPA) certification” of a particular truck engine. The SEC also filed a lawsuit in federal court alleging that the company’s former CEO, Daniel C. Ustian, “engaged in a coverup” that misled investors by aiding and abetting the violations by Navistar.
