Navistar Shares to Continue Trading as NYSE Reviews Suspension

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avistar International Corp.’s shares will continue trading on the New York Stock Exchange while NYSE officials review the stock exchange's decision to suspend the company’s stock over accounting issues, Bloomberg reported.

Navistar’s appeal of the suspension will be heard on Jan. 30, the NYSE said in a statement.

Navistar Chief Executive Officer Daniel Ustian said he was notified about the suspension of the stock earlier this month, which has traded on the NYSE since 1908, Bloomberg said.

A company official told Bloomberg that Navistar, the parent company of International Truck and Engine Corp., was pleased with the decision to allow the appeal to go forward.

The suspension process was spurred by Navistar’s failure to report financial results since September 2005 as it untangles problems in accounting for warranties and suppliers’ product-development programs, Bloomberg said.

The Securities and Exchange Commission is investigating the company’s restatement of earnings from 2002 through last year.

Navistar had said when the delisting was first announced in mid-December that it intended to contest the decision.

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