Symptoms of contact with a magnet does include:
--the device will be unable to boot up.
--the Apple logo will appear briefly upon start-up, and you will be prompted with a "Use iTunes to Restore" error message.
--This error message appears on a white screen that prevents you from using the iPod until the error is resolved.
There is, however, hope for you. To restore your device and fix its screen, you must use the device's "Disk Mode" feature.
1 Slide the hold switch on the top edge of the device into the "On" position. Slide the switch back into the "Off" position.
2 Press and hold the center "Select" button and the "Menu" button for six seconds, or until the Apple logo appears.
3 Press and hold the "Select" button and "Play" button as soon as the Apple logo appears. Continue to hold these buttons until the "Disk Mode" screen appears.
4 Connect the iPod to the computer via the USB connection cable that came with the device. Double-click the iTunes application icon to launch the application.
5 Click on the iPod listed beneath the "Devices" heading in the iTunes application window.
6 Click the "Restore" button and confirm that you want to restore the device. Once the restoration process is finished, the "Use iTunes to Restore" screen will no longer appear.
Restoring your iPod will erase all of the media stored on the device.