Lockridge Grindal Nauen P.L.L.P. Announces the Filing of a Class Action Suit against Dana Corporation---DCN
October 13 2005 - 4:11PM
Business Wire
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: -0-
*T 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 *T
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