Nearly three decades after Navistar International agreed to restore employee benefits cut in the 1980s, the truck and bus manufacturer has agreed to pay past and future retirees $742 million to settle a class-action lawsuit.
The case, Shy v. Navistar International Corp., has been in and out of courts since a 1993 consent agreement under which Navistar pledged annual payments to a fund to help pay retiree health and life insurance benefits for union and nonunion employees.
Navistar originally cut...
