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Published in House and Home on Thursday, May 24th 2012 at 15:45 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in... -- NEW YORK, May 24, 2012 /PRNewswire/ --
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Magna International Inc. to Contact the Firm
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).
(Logo: [ http://photos.prnewswire.com/prnh/20120119/MM38856LOGO ])
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/MGA ]
Take Action
If 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 [ rgonnello@faruqilaw.com ] or [ fmcconville@faruqilaw.com ]. 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, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[ rgonnello@faruqilaw.com ]
Francis McConville, Esq.
[ fmcconville@faruqilaw.com ]
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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