COLCHESTER, Conn., March 28, 2005 (PRIMEZONE) -- Scott + Scott, LLC, announces that it has commenced an investigation into the restatement of financial results of Navistar International Corp. (NYSE:NAV) on behalf of its client shareholders. On March 18, 2005, the Securities and Exchange Commission announced that it had made its investigation into Navistar "formal." The investigations center on the restatement which stretches back to 2002. The Company has delayed the filing of its annual and quarterly reports. The stock, which traded above $50.00 per share in January 2004, dropped to below $33.00 soon thereafter. It closed on Friday below $39.00. During the period that is being restated, insiders sold millions of dollars of their own stock. You can reach attorney Neil Rothstein at nrothstein@scott-scott.com at 800/332-2259 or 619/251-0887. Scott + Scott has offices in Connecticut, Ohio and California. The firm (http://www.scott-scott.com ) specializes in complex litigation including securities fraud and represents foundations, individuals, corporations and pension funds worldwide. Shareholders or other interested individuals may contact the firm.
Navistar International Corporation is a holding company that operates through its principal operating subsidiary, International Truck and Engine Corporation. The Company operates in three principal industry segments: truck, engine and financial services. Navistar's truck segment is engaged in the manufacture and marketing of Class five through eight trucks, including school buses. Its engine segment is engaged in the design and manufacture of mid-range diesel engines. The truck segment operates primarily in the United States, Canada, Mexico and other selected export markets while the engine segment operates in the United States and Brazil. Its financial services operations consist of Navistar Financial Corporation (NFC) and the company's foreign finance subsidiaries that provide retail, wholesale and lease financing of products sold by the truck segment and its dealers within the United States and Mexico. It is based in Illinois.
Scott + Scott, a Connecticut-based law firm with offices in Chagrin Falls, Ohio and San Diego, California, is a law firm with a national practice and reputation. The firm is currently litigating major securities, antitrust and employee retirement plan cases throughout the United States and represents pension funds, charities, foundations, individuals and other entities worldwide -- in both class and non-class cases. Scott + Scott dedicates itself to client communication and satisfaction. . Please visit our website at http://www.scott-scott.com to learn more about the firm, its practice and other cases. If you wish to discuss this action with an attorney or have any questions concerning this notice, your rights or any matter within our expertise, please contact attorney Neil Rothstein at nrothstein@scott-scott.com or by calling 800/404-7770 (EST) or 800-332-2259 (PST). You can dial direct in California at 619-233-4565.
Scott + Scott, LLC is based at 108 Norwich Avenue, Colchester, CT 06415; phone: 860/537-3818; fax: 860/537-4432. This release is issued in accordance with the applicable U.S. federal law.
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