AURORA, ON,
Aug. 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
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.
SOURCE Magna International Inc.