Dana (NYSE:DCN)
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From Jan 2020 to Jan 2025
Ann D. White Law Offices, a law firm in Jenkintown,
Pennsylvania announces that a lawsuit has been filed in the United
States District Court for the Northern District of Ohio, on behalf of
a class of persons who purchased the securities of Dana Corporation
(NYSE:DCN) between March 23, 2005 and September 14, 2005, inclusive
(the "Class Period").
If you are a member of this class and would like a copy of the
complaint and to join this class action, please e-mail us at
awhite@awhitelaw.com. If you are a member of the class, you may move
the Court, through counsel of your choice, no later than December 5,
2005 to serve as lead plaintiff for the class. Any member of the
purported class may move the Court to serve as lead plaintiff. A lead
plaintiff is a representative party that acts on behalf of other class
members in directing the litigation. Under certain circumstances, one
or more class members may serve together as lead plaintiff. Your
ability to share in any recovery is not, however, affected by the
decision whether or not to serve as lead plaintiff. You may retain Ann
D. White Law Offices, P.C. or other counsel of your choice.
The complaint alleges that Dana made false and misleading
statements regarding the Company's financial performance and
condition. On September 15, 2005 Dana issued a press release
announcing that it would restate second quarter results and that it
was dramatically reducing guidance for 2005, to $0.60-$0.70 per share
from $1.30-$1.45. In addition, the Company announced that it may be in
violation of certain loan covenants, and that it might have to write
down the value of certain U.S. deferred tax assets. In reaction to the
announcement, Dana's stock price fell dramatically from $12.78 per
share on September 14, 2005 to $9.86 per share on September 15, 2005,
a drop of 22.8%.
Our firm's attorneys have considerable experience representing
plaintiffs and defendants in securities, antitrust, consumer rights
and other commercial litigation.
If you have any questions about the lawsuit or how you may be able
to participate, please contact us.