Report: Porsche facing suit over 'stranglehold' on VW shares
Nearly $400 million is a lot of money, but it's only one of the short seller suits filed against Porsche. Back in January, several short sellers filed suit with similar claims, as the U.S.-based investors lost over $1 billion on VW short sales.
We aren't at all knowledgeable about the rules of short sales and we don't have any lawyers on the staff, but we can tell you that, at the very least, these lawsuits are likely a big-time hassle for Porsche. And if these suits ultimately bear fruit for the plaintiffs, Porsche could be a very costly problem for a car maker already short on cash.
[Source: Business Week]
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