14:56:24 EDT Thu 03 Jul 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 281,778,768
Close 2025-06-27 C$ 52.67
Market Cap C$ 14,841,287,711
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Globe/CP say Magna founder set to stand trial in '26

2025-06-27 08:00 ET - In the News

The Globe and Mail reports in its Friday edition that billionaire Frank Stronach is now set to stand trial in his Toronto sexual assault case early next year before a judge alone. A Canadian Press dispatch to The Globe reports that Mr. Stronach's defence lawyer says he switched from a jury trial to one with a judge alone with the Crown's consent in a hearing Thursday morning, with the trial scheduled to begin in February. Defence lawyer Leora Shemesh also confirms that her client pleaded not guilty today to the 12 charges he faces in Toronto. "I think it allows us to be more expeditious and more efficient, without a jury," Ms. Shemesh told CBC News in a phone interview after Thursday's hearing in Ontario Superior Court. Mr. Stronach is also expected to face a separate trial in Newmarket, Ont., later in 2026 after the case was split into two proceedings last year. The 92-year-old tycoon, who became one of Canada's wealthiest people as the founder of auto parts giant Magna International, was charged last year with 18 counts involving 13 complainants across Ontario. The charges include sexual assault and indecent assault, and some of them date back decades. Mr. Stronach has denied all allegations against him.

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