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)