Navistar Shareholder Dispute: Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Poss
Navistar Shareholder Dispute: Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Possible Breaches of Fiduciary Duty
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action complaint was recently filed against Navistar International Corporation ("Navistar" or "Company") (NYS: NAV) and certain of its officers and directors for potential securities violations between November 3, 2010 and August 1, 2012 (the "Class Period").
Based upon these allegations, the firms are investigating potential legal claims against the officers and Board of Directors of Navistar International Corporation. If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In the class action complaint, Navistar and certain of its officers and directors were charged with violating provisions of the Securities Exchange Act of 1934. Notably, the complaint alleges that defendants made numerous misrepresentations, including that (a) Navistar would be forced to revise its plan to meet the EPA guidelines in truck manufacturing, which would create an immense cost to the Company; (b) Navistar did not meet the 2010 EPA standards for their engines; (c) the Company's disclosures in their SEC filings were incomplete and misleading, including statements about the costs of recalls and details of various debts. According to the complaint, when the truth came out regarding the Company's true financial condition and future prospects, the Navistar share price fell over 69% from its Class Period high.
"Based upon the recent revelations about alleged improper business practices and procedures regarding key aspects of Navistar's business, our firms are investigating possible breaches of fiduciary duties and other violations of state law by Navistar's officers and directors." said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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