AURORA, Ontario, August 26, 2013 /PRNewswire/ --
Magna International Inc. (TSX: MG; NYSE: MGA) today announced
that the United States District Court, Southern District of
New York has granted the Company's
motion and dismissed the putative securities class action lawsuit
in which Boilermaker-Blacksmith National Pension Trust acted as
lead plaintiff. The lawsuit was originally filed in May 2012 against the Company, its Chief Executive
Officer, Chief Financial Officer, as well as its founder. As a
result of the Court's decision to dismiss the lawsuit "with
prejudice", the claim cannot be re-filed.
ABOUT MAGNA
We are a leading global automotive supplier with 314
manufacturing operations and 89 product development, engineering
and sales centres in 29 countries. Our 123,000 employees are
focused on delivering superior value to our customers through
innovative processes and World Class Manufacturing. Our product
capabilities include producing body, chassis, interior, exterior,
seating, powertrain, electronic, vision, closure and roof systems
and modules, as well as complete vehicle engineering and contract
manufacturing. Our common shares trade on the Toronto Stock
Exchange (MG) and the New York Stock Exchange (MGA). For further
information about Magna, visit our website at
http://www.magna.com.
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE
"FORWARD-LOOKING STATEMENTS" UNDER APPLICABLE SECURITIES
LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE
CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA'S REGULATORY
FILINGS. PLEASE REFER TO MAGNA'S MOST CURRENT MANAGEMENT'S
DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL
POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F,
AS REPLACED OR UPDATED BY ANY OF MAGNA'S SUBSEQUENT REGULATORY
FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE
RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY
FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE
DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA'S WEBSITE AT
WWW.MAGNA.COM.