NEW YORK, 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.
Request more information now by clicking here: www.faruqilaw.com/MGATake ActionIf you purchased Magna securities between January 12, 2011 and August 5, 2011 and would like to discuss your legal rights, visit www.faruqilaw.com/MGA. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Magna's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential matter.FARUQI & FARUQI, LLP369 Lexington Avenue, 10th Floor New York, NY 10017Attn: Richard Gonnello, Esq. email@example.com Francis McConville, Esq. firstname.lastname@example.org Telephone: (877) 247-4292 or (212) 983-9330 SOURCE Faruqi & Faruqi, LLP