The Shareholders Foundation announces that an investigation on behalf of investors in shares of Magna International Inc. (USA) (NYSE:MGA) was announced over potential securities laws violations by certain officers and directors at Magna International Inc. in connection with potentially false and misleading statements.
Investors who purchased shares of Magna International Inc. (USA) (NYSE:MGA), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Magna International Inc. (USA) (NYSE:MGA) concerning whether a series of statements made between January 12, 2011 and August 5, 2011, regarding Magna Intl’s business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation seeks to determine, among other things, whether Magna International Inc knew but failed to timely disclose that it was experiencing difficulties with its European operations during the relevant period.
Shares of Magna International Inc. (USA) (NYSE:MAG) rose after its 2:1split on November 26, 2010 to as high as $59.71 per share on January 7, 2011. However NYSE:MAG stocks dropped abruptly from $52.25 per share in the end of July 2011 to as low as $33.58 during August and $31.78 per share in September 2011.
NYSE:MAG shares closed 2011 at slightly above $34 per share and have since then recovered some value. NYSE:MAG shares closed on Friday, February 17, 2012 at $44.70 per share.
Those who purchased shares of Magna International Inc. (USA) (NYSE:MGA) and currently hold those NYSE:MGA) shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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