The Stronach Group says a lawsuit filed by Frank Stronach's son and granddaughter over management of the family business's wealth has been settled out of court.The Canadian PressMagna International founder Frank Stronach, with his daughter Belinda, at the company's annual general meeting of shareholders in Toronto, May 1, 2008.
In the statement, Belinda Stronach says she is "very pleased" the litigation launched by her brother and niece has been resolved, and she looks forward to moving forward as a company and family. The lawsuit launched by Andrew and Selena Stronach in 2019 alleged Belinda Stronach — the company's chairwoman, chief executive officer and president — and others had mismanaged the trusts holding the family's assets for their own benefit.