Dana Holding sues Northern Trust

Dana Holding Corp., the maker of truck axles and frames that exited bankruptcy last year, sued Northern Trust Corp. and Provident Investment Counsel Inc. over $7.4 million in losses tied to the company's pension plans.

Northern Trust, the Chicago-based custody bank, and Pasadena, California-based Provident failed to reconcile discrepancies in Dana's plan records when the company switched investment advisers, according to a complaint filed yesterday in federal court in Toledo, Ohio.

The case is Dana Limited v. Provident Investment Counsel Inc., 09-00386, U.S. District Court, Northern District of Ohio, Western Division (Toledo).