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Lawsuit over management of The Stronach Group's wealth settled out of court: company

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TORONTO — 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.

TORONTO — 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.

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.

An Ontario court rejected her bid last month, finding there was no evidence to suggest any such documents exist.

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