Dana (NYSE:DCN)
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The law firm of Lockridge Grindal Nauen P.L.L.P.
announces that a class action lawsuit has been commenced in the United
States District Court for the Northern District of Ohio on behalf of
purchasers of the securities of Dana Corporation ("Dana" or the
"Company") (NYSE:DCN) between March 23, 2005 and September 14, 2005,
inclusive (the "Class Period") seeking to pursue remedies under the
Securities Exchange Act of 1934 (the "Exchange Act").
If you bought the securities of Dana between March 23, 2005 and
September 14, 2005 and sustained damages, you may, no later than
December 5, 2005, request that the Court appoint you as lead
plaintiff. A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In order to
be appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class. 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 a lead
plaintiff. You may retain Lockridge Grindal Nauen P.L.L.P., or other
counsel of your choice, to serve as your counsel in this action.
The Complaint alleges that Dana made false or misleading public
statements regarding the Company's historical financial performance
and conditions. On September 15, 2005, Dana issued a press release
announcing that it would likely restate second quarter 2005 financial
results and that it had lowered its 2005 earnings guidance, to $0.60
to $0.70 per share from $1.30 to $1.45. In reaction to this
announcement, the price of Dana stock fell from $12.78 per share on
September 14, 2005 to $9.86 per share on September 15, 2005, a one-day
drop of 22.8% on heavy trading volume.
Lockridge Grindal Nauen has considerable experience in prosecuting
securities class actions, has extensive experience representing
shareholders in class actions, and has successfully recovered millions
of dollars for defrauded investors and shareholders. The reputation
and expertise of the firm in shareholder and other class action
litigation have been repeatedly recognized by courts, which have
appointed the firm to major positions in complex multi-district and
consolidated litigations. Visit our website at www.locklaw.com.
Lockridge Grindal Nauen has offices in Minneapolis and Washington,
D.C.
If you have any questions about the lawsuit or how you may be able
to participate in the lawsuit and recover your losses, please call or
e-mail:
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Gregg M. Fishbein, Esq. (gmfishbein@locklaw.com)
Lockridge Grindal Nauen P.L.L.P.
100 Washington Avenue South, Suite 2200
Minneapolis, MN 55401
(612) 339-6900
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