A long-standing battle between a real-estate company controlled by auto parts magnate Frank Stronach and minority shareholders will be heard by the Ontario Securities Commission. The OSC says it has scheduled a Sept. 9 hearing to deal with the complaint involving MI Developments, a real-estate management company spun off by Magna International Inc. and controlled by Mr. Stronach. The complaint is being brought by Greenlight Capital Inc., a New York-based investment firm, with the support of Farallon Capital Management LLC and several other firms that own shares in MI Developments. The OSC's hearing will investigate whether MI Developments has violated a rule that's supposed to protect minority shareholders. MIM.A (TSX) fell 30 cents to $11.65. MG.A (TSX) fell 71 cents to $52.47.
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