Stronach family members settle management lawsuit out of court

A lawsuit filed by the son and granddaughter of Frank Stronach, founder of The Stronach Group, over management of the family business was settled by the parties involved.

The suit was filed by Andrew and Selena Stronach against Belinda Stronach, who is chairman, president and CEO of The Stronach Group, and others in 2019.

"I am very pleased that the litigation with my brother and niece has been resolved,” Belinda Stronach said in a news release. “We look forward to moving ahead with exciting plans for our business and moving forward as a family."

The terms of settlement are confidential, according to the release, and the parties will not provide additional comments.

As Canadian Press reported, the lawsuit alleged that Belinda Stronach and others had mismanaged trusts holding the family's assets for their own benefit.

Selena Stronach filed a motion in July to compel The Stronach Group to disclose any documents that might exist related to complaints of sexual misconduct against Frank Stronach and any related settlements.

Frank Stronach was charged with sexually assaulting 10 people over the last 40-plus years.

An Ontario court rejected Selena Stronach’s motion last month, according to Canadian Press, saying there was no evidence of such documents.

Stronach has denied the claims, and a hearing in the case is scheduled for October.