DCN Dana Cp

Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Northern District of Ohio, on behalf of persons who purchased or otherwise acquired publicly traded securities of Dana Corporation ("Dana" or the "Company") (NYSE:DCN) between March 23, 2005 and September 14, 2005, inclusive, (the "Class Period"). The lawsuit was filed against Dana and Michael J. Burns and Robert C. Richter ("Defendants"). If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at penny@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than December 5, 2005 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel. The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that during the Class Period, the Company made representations regarding the Company's historical financial performance and condition that were materially false and misleading. These statements were false and misleading because: (1) the Company had improperly accounted for price increases, inflating income in the second quarter of 2005; (2) the Company's purported financial success was the result of improper accounting; and (3) as a result the Company's guidance lacked any reasonable basis and could not be met without a significant drop in raw material prices. On September 15, 2005, before the market opened, the Company 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 commented 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, declining from $12.78 per share on September 14, 2005 to $9.86 per share on September 15, 2005, a decline of approximately 23%. If you bought Dana securities between March 23, 2005 and September 14, 2005, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 753-2796 to speak with an advisor.