Stronach Group Settles Family Lawsuit Over Wealth

The Stronach Group has settled a five-year lawsuit filed by Frank Stronach's son and granddaughter regarding alleged mismanagement of family wealth, with the terms remaining confidential. Belinda Stronach, the company's chairwoman and CEO, expressed satisfaction with the resolution and the intention to move forward as a family and business. The lawsuit, initiated in 2019 by Andrew and Selena Stronach, accused Belinda and others of mishandling the trusts that hold the family's assets. Additionally, Selena Stronach's attempt to compel the company to disclose documents related to sexual misconduct allegations against Frank Stronach was denied by an Ontario court. Frank Stronach is currently facing multiple criminal charges, including sexual assault, involving incidents dating back to 1977. A hearing related to these charges is set for early October 2024.