03:34:41 EST Fri 13 Dec 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 287,327,745
Close 2024-08-21 C$ 56.29
Market Cap C$ 16,173,678,766
Recent Sedar Documents

Globe says Magna founder daughter's complaint dismissed

2024-08-22 07:56 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 22, edition that the legal efforts made by Frank Stronach's granddaughter to obtain a court order for any human resource complaints at the family business, concerning alleged sexual harassment by her grandfather (Magna International founder), have been dismissed by an Ontario Superior Court judge. The Globe's Kate Helmore writes that the judge stated that her request amounted to a fishing expedition. This decision came after a court hearing where Selena Stronach argued that the documents were relevant to her ongoing lawsuit against her aunt, Belinda Stronach, and former Magna chief executive officer Alon Ossip. The lawsuit is regarding the alleged uneven distribution of the family fortune. Selena Stronach believes that any settlements would further evidence the mismanagement of corporate assets, which affects the family trust of which she is a beneficiary. The court ruled that the motion was speculative as there was no evidence of the documents' existence. It also stated that the alleged sexual misconduct did not occur during periods of power for Belinda Stronach or Mr. Ossip. The court viewed the motion as a tactic to delay the upcoming civil trial starting on Sept. 9.

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