Navistar CFO Andrew Cederoth leaving company

Updated Jun 26, 2013

NAVISTAR INTERNATIONAL CORP. LOGOAccording to a report from our sister site CCJ, truck maker Navistar has announced that its chief financial officer Andrew Cederoth will be leaving the company at the end of the month.

In April, Cederoth and former chief executive officer Dan Ustian were sued in multiple class action lawsuits on behalf of shareholders who bought common stock between November 3, 2012 and August 1, 2012.

The suits allege that Cederoth violated Securities and Exchange laws by working to artificially inflate Navistar’s stock price before selling his 9,500 shares of the company’s stock when it was at record highs.

Cederoth sold his shares for upwards of $640,000 before the company’s stock price fell from $70.17 a share to $21.44.