Dana, Mired In Legal Trouble, Fails To Restate Earnings

Law360, New York (November 7, 2005, 12:00 AM EST) -- Auto parts maker Dana Corporation said it would not restate its earnings for the past two years in its third-quarter report, an announcement that is likely to prompt several more class action lawsuits against the troubled company.

“As previously announced, the company will restate its financial statements for 2004 and the first and second quarters of 2005,” the company said in a press release. “Until such time as the restatements are completed, the company will not be in a position to finalize its financial statements for...
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