Navistar International has reached a tentative settlement with the Securities and Exchange Commission over the agency's investigation into the company's December 2007 restatement of financial results for 2002 through the first three quarters of 2005.

The SEC has been investigating the restatement since 2006. A special committee of the Navistar board of directors internally investigated the matter in December 2007.

"This settlement will enable our company to put this matter behind us and to continue our focus on building and sustaining our positive momentum on behalf of our shareowners," said Daniel Ustian, Navistar chairman, president and CEO.

If the commission approves the agreement, Navistar will not pay any fines or penalties, but will consent to the entry of an administrative settlement regarding its pre-restatement accounting practices in specified areas. In addition, Navistar will neither admit nor deny any wrongdoing.

According to the company, Ustian plans to return some of his 2004 bonus, the only year in which a bonus was paid during the period. Several former employees are expected to agree to a civil penalty.

Steven Covey, Navistar senior vice president and general counsel, said the company has put in place systems and people to ensure that events that led to the restatement will not occur in the future.