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Press release from PR Newswire

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Magna International Inc. to Contact the Firm

Thursday, May 24, 2012

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Magna International Inc. to Contact the Firm18:36 EDT Thursday, May 24, 2012NEW 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 ActionIf 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, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn:  Richard Gonnello, Esq.rgonnello@faruqilaw.com Francis McConville, Esq.fmcconville@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330SOURCE Faruqi & Faruqi, LLP