Bloomberg.com: U.S.:"During our investigations, we identified material weaknesses in our system of internal control over financial reporting and we have taken, and will continue to take, appropriate actions to remediate these weaknesses,'' Dana Chief Executive Officer Mike Burns said in the statement. The company said the mistakes, first announced in September, were caused by errors involving customer pricing and transactions with suppliers to its commercial-vehicle business.

Before the restatements, Dana reported net income of $334 million in 2000, net losses of $298 million in 2001 and $182 million in 2002, and net income of $222 million in 2003, $82 million in 2004 and $69 million in this year's first half.Technorati tags:

Yeah right, like i'm going to believe that their "investigation" helped find a mistake. They were probably forced to come clean or otherwise face a worse fate.