New Challenge To Magna

The Ontario Securities Commission has set a September 9 date for a hearing of grievances from Greenlight Capital, Inc., a New York-based investment firm which has been a persistent foe of Frank Stronach’s management of MI Development company, a spinoff from Magna International and the parent of Magna Entertainment.

Greenlight is a minority shareholder in MI Development and charges that company with transactions among its various companies that Greenlight says violates rules intended to protect minority shareholders.

(Harness Tracks of America)

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