DAYTON, Ohio, Jan. 28, 2022 /PRNewswire/ -- A class action settlement has been reached to settle disputes among parties in Shy v. Navistar International Corp., Case No. 3:92-cv-0333-WHR (S.D. Ohio) regarding Navistar's employment and retirement benefits. The Court granted preliminary approval of this settlement January 10, 2022. The settlement would eliminate the right to bring additional lawsuits concerning the current disputes in exchange for cash and other consideration, estimated at a value of $742 million plus interest, that would be used to increase the healthcare benefits received by union and salaried retirees of Navistar. Details about the settlement and related matters can be found at www.navistar.com/shysettlement. Retiree inquiries can be made toll-free by calling 1-877-353-5100 or emailing retireehotline@navistar.com.

The settlement class is defined as:

Present participants (including spouses and dependents) and those eligible to become participants, whether upon retirement or election (including eligible spouses and dependents), in the Navistar International Transportation Corp. Retiree Health Benefit and Life Insurance Plan (n/k/a the Navistar, Inc. Retiree Health and Life Insurance Plan). This includes all eligible present retirees, individuals eligible upon retirement or election, and participating, eligible, or future-eligible spouses and dependents in the Navistar International Transportation Corp. Retiree Health Benefit Program (n/k/a the Navistar, Inc. Retiree Health Benefit Program), the Navistar International Transportation Corp. Retiree Life Insurance Program (n/k/a the Navistar, Inc. Retiree Life Insurance Program), and the Navistar International Transportation Corp. Retiree Supplemental Benefit Program (n/k/a the Navistar, Inc. Retiree Supplemental Benefit Program).

A hearing will be held before the Honorable Walter H. Rice on June 9, 2022, at 10 a.m. EST in the Walter H. Rice Federal Building and U.S. Courthouse, Courtroom 1, 200 West Second Street, Dayton, Ohio 45402, or as otherwise ordered by the Court ("Fairness Hearing") to: (i) determine whether the proposed Settlement is fair, reasonable and adequate; (ii) determine whether the above class definition should be adopted for the Settlement; (iii) determine whether Class Counsel's motion for attorneys' fees and expenses should be approved; (iv) determine whether certain provisions of the agreement resulting from the Shy case should be modified to effect the Settlement; (v) consider any Class Member's timely objection to the Settlement or to the motion for attorneys' fees and expenses; and (vi) consider any other matters that may properly be brought before the Court in connection with the Settlement. Members of the settlement class do not need to attend the Fairness Hearing.

If you are a member of the settlement class, your rights may be affected. For further details about the settlement and related matters visit www.navistar.com/shysettlement. Inquiries can be made toll-free by calling 1-877-353-5100 or emailing retireehotline@navistar.com.