BALTIMORE, March 1, 2005 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Visteon Corp. (NYSE:VC) between January 23, 2004 and January 31, 2005, inclusive (the "Class Period").
The case is pending in the United States District Court for the Eastern District of Michigan against defendants Visteon Corp., Peter Pestillo, Michael Johnston, Glenda J. Minor, Daniel R. Coulson and James Palmer. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than April 26, 2005 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.
If you acquired shares of Visteon Corp. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Charles J. Piven has been involved in securities litigation for approximately 20 years.