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Magna International Inc. (MGA)

(NYSE: MGA)

Summary

Faruqi & Faruqi, LLP Announces Investigation of Magna International Inc.

Faruqi & Faruqi, LLP is investigating potential securities fraud at Magna International Inc. (“Magna” or the “Company”) (NYSE: MGA).  

The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that:  (1) the Company’s long-term European customer contracts were at steeply discounted prices; (2) Magna was experiencing quality control issues resulting in higher production costs at its European factories; (3) the foregoing adversely affected Magna’s production margins; and (4) Company’s representations concerning its disclosure controls were materially false and misleading.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 05/24/2012

Class Period:

  • 01/12/2011 - 08/05/2011

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