As A sharehodler of the Old and previous Danna stock, I am one of the sharhodlers who was told by Dana that Dana was "enhancing our sharehodler value", and then
Dana told us to hold our stock and not accept an $ 8 buyout becuase it was not in our best interest.
And Dana told us old shareholders that their reorganzation plan was working and would enhance ouf stock value.
and THEN Dana blantly ignored what they told us and Dana filed chapter 11 and Dana told us that Dana stock, the same stock which they told us not to sell. The same stock they told us they were "enhancing our sharehodler value", that same stock they told us that Dana's reorganzition was working and would "enhance our shareholer value" .........that same stock they then told us was Not "enhanced". the told us that our stock was in fact to be wiped out and new ahares would be issuned, not to us, but to new investors.
Dana turned their back on the previous shareholder to whom they made these representations abd Dana's board and its executives paid millions of dollars to those at Dana at the tope of the management ladder as we were wiped after Dana igonred their statemnt to their previous shareholders. \.
Dana "apparenlty" has now told these new sharhodlers a story about what the new shares would be worth as the shares entered teh marketplace. .
The fact now is that this new Dana Holding company common stock started out in the maret at only around
$ 13.30 a share and after a few weekks it now sells for, as of this evening ,less than $ 11.
If Dana had any common sense they would have not wiped out the old sharhodlers and sent that chill into the investment market that Dana makes representations about enhancing sharholder value and then turns around and wipes out the value of Dana shareolders.
the market doesn't forget. A company creates a reputation in the investment commmunity based on what they represnet to their shareholders and how they follow though on those representatiuons.
We were lied to and we were wiped out by a company who did not live up to their representations to us.
Here is a recent news report on the New Dana stock:
Hopefully when the class action attorneys get a hold of this thievery, they will stick a big metal peg up all of danas management, ceo, & entire boards asses!!
Maybe then we will get something, or at least we can watch Dana & Centerbridge have to pay the outrages fees from the attorneys!!!
& Mike Burns can rot in jail or hell, whichever comes first !!!
Is the old stockholders of DCNAQ.PK going to get the pittence that our stock account says is ours, but we cannot sell? will the amount be what is shown, a larger amount, or nothing?Personally I need to start rebuilding my portfollio.
These lying scum balls will get what they deserve. Liars, thieves and the lowest form of life! Enron taught these bast**** how to steal and not get prosecuted. A sad day in the life of many to take care of the greed ($$$$$) of a few! I would not touch this stock with a 1000 ft. pole.
Well when we see 4 million share days and 30 posters hard wired on this thread you'll know the damm company is making a buck instead of loosing 3 bucks a share.
Wouldn't hurt if they come up with any kind of EARNINGS!
Dana's way to measure "earnings" is seeing how much money they can borrow against inflated asset values and how long they can put off paying their creditors. Their whole bussiness model is based on "creative accounting methods".
I don't know what happened to inovative products or having the best quality in their market.
As of 2-15 my $19,000 of dcnaq was showing to be worth $600 on my account, but I cannot sell it. Is DANA wiping out all of the old stock, or we going to get a settlement at the closing cost of.04 per share?
The poster Soouthpaw19...asked the following question:
'As of 2-15 my $19,000 of dcnaq was showing to be worth $600 on my account, but I cannot sell it. Is DANA wiping out all of the old stock, or we going to get a settlement at the closing cost of.04 per share? "
From what we are seeing it appear that Dana corporation wiped out all the common stock of the previous investors, to whom they had, prior to wipin out the site, "Dana was going to enhance the value of their shares..and other lies.
Here is the link to the News article
I would think that you only recourse now is to appeal to send in a compaint to the SEC pointout out the statemehnt Dana made to induce sharehodler to buy and to mainting their investment in Dana... Written Statement such as Dana was enhancing their share value,..an written statemenet that it was not in the Dana sharehodler's best interest ot accept the $ 8 buy out....And statement such as Dana's statement that the Dana restructuing program was proceeding positively for shareholders..( and similiary words and satement by Dana )
Write to the SEC they may recognize that company's who lie to shareholder to induce the inveting public to hold shares and to buy shares and then give the sharehodlers nothing becuase they belived Dana..that this type of company nees to learn that the SEC penalizes companies for tricking the public by inducements and statements such as the ones they made.
As old shareholder we were wipied out and new shares were give to new sharhodler also with Dana's statement that Dana projected the value of these new shares to be worth $ 22 a share when they entered the market. That as these new shareholder have found out, now that the new shares are on the market,,,, was also a lie and these new shares are trading for around hasl of what Dana projected.
Here is the link to the News article
So now the new sharehodler are also leaning that Dana corporation has no qualms about the staement and inducments they make to the investment community. Anf ro that reason ask the SEC to investigate Dana and penalize Dana for these misrepresentations to the investors.