Ex-Navistar CEO Didn't Submit 'Sham' EPA Apps, Court Told
Law360 (August 15, 2019, 6:36 PM EDT) -- Navistar International Corp.’s former CEO urged an Illinois federal judge Thursday to give him an early win over claims that he misled investors about certain engines’ ability to meet federal environmental standards, saying he did not lie about those engines’ certification applications with the U.S. Environmental Protection Agency.
Former Navistar CEO Daniel C. Ustian argued that U.S. District Judge Sara Ellis should grant him summary judgment in the U.S. Securities Exchange Commission’s lawsuit. Ustian said that despite the agency’s allegations, his public statements regarding engines the company was developing with exhaust-gas-recirculation, or EGR, technology, were “neither rosy nor optimistic.”
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