There is a Class Action Lawsuit forming against Navistar by its shareholders in regards to their EGR engines. The way it reads, the shareholders are kinda pissed they lost close to 4 billion after Navistar scrapped the EGR idea in August. The time leading up to it is what the lawsuit about, they feel Navistar lied about its progress with the EGR only engine and led everyone to believe it would be successful.
As many know, Navistar had been extremly opposed to SCR and was determined to find a way around it. The CEO was very outspoken about his resistance to the SCR technology, this can be seen in his youtube videos. Navistar went as far as to sue the EPA multiple times alledging they "favored" the other engine makers and that SCR could be easily defeated. The cases resulted in the other OEM's making sure to implement quality sensors and derate modes for low or poor fluid and Navistar looking even worse than they already had. They kept on their EGR mission and were very arrogant about it. They had a lot of credits stashed due to meeting the previous standards early. The EPA was going to allow them to sell their engines under a penalty but the other OEM's put an end to that. Then last August they publicly apologized for their arrogance and actions the past couple years and announced they were implementing SCR to their engines and scrapping the 15L engine in favor of the Cummins ISX. They appointed a new CEO and are now talking about closing one or more of their engine plants.
http://protectshareholderrights.com...tar-nav-securities-fraud-class-action-lawsuit
http://www.globenewswire.com/news-r...t-Navistar-International-Corporation-NAV.html
http://www.successfuldealer.com/firms-file-class-action-suits-against-navistar/
http://www.overdriveonline.com/navistar-offers-updates-on-switch-to-scr/
http://fleetowner.com/green/archive/navistar-sues-epa-again-0714
http://www.forbes.com/sites/joannmu...could-bankrupt-a-great-american-manufacturer/
http://www.thetrucker.com/News/Stories/2012/6/13/CourtblocksEPAplanforNavistarengineexemption.aspx
As many know, Navistar had been extremly opposed to SCR and was determined to find a way around it. The CEO was very outspoken about his resistance to the SCR technology, this can be seen in his youtube videos. Navistar went as far as to sue the EPA multiple times alledging they "favored" the other engine makers and that SCR could be easily defeated. The cases resulted in the other OEM's making sure to implement quality sensors and derate modes for low or poor fluid and Navistar looking even worse than they already had. They kept on their EGR mission and were very arrogant about it. They had a lot of credits stashed due to meeting the previous standards early. The EPA was going to allow them to sell their engines under a penalty but the other OEM's put an end to that. Then last August they publicly apologized for their arrogance and actions the past couple years and announced they were implementing SCR to their engines and scrapping the 15L engine in favor of the Cummins ISX. They appointed a new CEO and are now talking about closing one or more of their engine plants.
http://protectshareholderrights.com...tar-nav-securities-fraud-class-action-lawsuit
http://www.globenewswire.com/news-r...t-Navistar-International-Corporation-NAV.html
http://www.successfuldealer.com/firms-file-class-action-suits-against-navistar/
http://www.overdriveonline.com/navistar-offers-updates-on-switch-to-scr/
http://fleetowner.com/green/archive/navistar-sues-epa-again-0714
http://www.forbes.com/sites/joannmu...could-bankrupt-a-great-american-manufacturer/
http://www.thetrucker.com/News/Stories/2012/6/13/CourtblocksEPAplanforNavistarengineexemption.aspx