Navistar, known best in the US as the manufacturer of the International line of trucks, has agreed to a $7.5 million settlement with the U.S. Government, but its old CEO may still be on the hook.
In 2011 and 2012, Navistar was struggling with getting its engines EPA certified to comply with U.S. emission standards. According to the press release issued by the Securities and Exchange Commission, the EPA repeatedly “raised concerns” about Navistar’s ability to build a “commercially viable” engine that would meet EPA standards.
Apparently trying to reassure their investors that they had it all under control, both Navistar and its then-CEO were both charged with misleading investors about the difficulties it was facing in SEC filings, press releases, and phone calls.
Without admitting or denying the charges against them, Navistar has reached a settlement with the SEC to pay $7.5 million to close the case against them in order to “avoid the expense and distraction of a potential dispute with the SEC and allow us to continue our focus on building and sustaining momentum on behalf of our shareholders.” This quote was first published on Truckinginfo.com and attributed to Lyndi McMillan, an external communications manager for Navistar.
Navistar’s ex-CEO, Daniel Ustian, still faces charges from the SEC for his part in misleading investors.
Source: truckinginfo, sec, daytondailynews
I have the max force engine put 6 thousand into it and once and awhile when going slow you will see smoke coming up thru the passenger door it’s making me sick and no one can fix the problem it’s leased thru quality trucks
There’s a flex collar on the exhaust right there that will leak like that when it needs to be replaced. did mine, problem solved.
International was a good company at one time but now I have to say Peterbilt is the number one truck on the market now and it in texas……
Internationals are biggest junk on the roads this days. I have 3 Prostars with cummins engine. Two of them took a dump on 500k. both engines blowned. One busted pistons went trough a engine block made 10 inch hole in the block 515K other one went in runaway do to blow’d turbo. Im not even gonna go on A/C system in this junks.
Cummins engine failures have nothing to do with International. Any make of engine in any make of truck can fail at any time. Wise up
International Trucks ARE responsible for Cummins (and Caterpillar) by stating that they met their “high” quality control standards at the point of purchase. The same way the Ford did with the Firestone tires during the Explorer fiasco
Agree. The engine and truck are separate. I have known Cummins engines to go bad on peterbilt before
I’m sure it’s about there Maxxforce engine.
This is true. Allot of the failures is problematic in the Mexico assembly plants where International gets them assembled (like freightliner). When you compare a Prostar with a Cummins, and a Kenworth/Peterbilt assembled in Chillicothe Ohio with Cummins, you’ll notice a huge difference in how things are put together.
why does international even bother selling trucks anymore? They have ruined their name with the Maxxforce and I will never buy one ever again. My 2012 Maxxforce was the biggest piece of junk and I lost money running that truck for 2 years -couldnt sell it and finally had to trade it in for 9900 cummins which was another crappy truck. Paccar, Volvo and Freightliner are way better choices
Like my friend used to say about International….fine company, but they should stick to agricultural equipment 🙂