VC Visteon Corporation

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Visteon Corp. HARTFORD, Conn., Feb. 28 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Michigan on behalf of all persons who purchased the publicly traded securities of Visteon Corp. (NYSE:VC) ("Visteon") between January 23, 2004 and January 31, 2005 (the "Class Period"). The Complaint alleges that Visteon violated federal securities laws by issuing false or misleading public statements. Specifically, the Complaint alleges that Visteon improperly accounted for certain retiree health care, pension benefits and income taxes and, as a result, it had to reverse $9 million in expense reductions for U.S. post-retirement life and health care costs and to adjust the valuation allowance on deferred tax assets by $17 million. As a result of the foregoing, Visteon's financial results were in violation of Generally Accepted Accounting Principles ("GAAP") and were materially inflated at all relevant times. On January 31, 2005, Visteon announced a 2004 net loss of $1.489 billion, or $11.88 per share. In addition, Visteon's management recommended the review and preliminary restatement of Visteon's financial statements for 2002, 2003 and the first three fiscal quarters of 2004. On this news, Visteon stock fell 6.43 percent to close at $7.42 per share. If you are a member of the class, you may, no later than April 26, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the Complaint initiating the class action, which was not filed by Schatz & Nobel, or for more information about this case, class action cases in general, or Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Wayne T. Boulton or Nancy Kulesa Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Wayne T. Boulton or Nancy Kulesa both of Schatz & Nobel, +1-800-797-5499, Web site: http://www.snlaw.net/

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