Navistar Sues Former Auditor, Deloitte

Company blames Deloitte for errors that led to restating its financials

Navistar, the Illinois-based truck manufacturer with $12.1 billion in 2010 revenue, has sued its former audit firm, Deloitte, for $500 million in damages. Navistar claims that Deloitte’s substandard work from 2002 to 2005 resulted in the company’s having to restate its financials.

According to Reuters, a Deloitte spokesman called the lawsuit “an utterly false and reckless attempt to try to shift responsibility for the wrongdoing of Navistar’s own management.”

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