A securities fraud lawsuit filed against two ex-officials of the former Dana Corp. was reinstated this week in U.S. District Court in Toledo.
The action came after the U.S. Court of Appeals in Cincinnati overturned a decision by federal Judge James Carr dismissing the lawsuit in August, 2007.
The suit claims that Michael Burns, former chief executive, and Robert Richter, ex-finance chief, misled investors about the financial health of the Toledo auto parts producer, now known as Dana Holding Corp.
The suit was filed on behalf of all investors who bought Dana stock between April 21, 2004, and Oct. 7, 2005.
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