May 24, 2012
/PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, 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.
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January 12, 2011
August 5, 2011
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. Faruqi & Faruqi, LLP also encourages anyone with information regarding Magna's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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