• Report
  • 4
Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.

Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
      • 11 Months Ago
      Good. Enough with the needless lawsuits, they lost controll of their company, that should be enough
      • 11 Months Ago
      "Now I can goh und make zee pitzah!" Referring to his pizza restaurant chain aspirations.
      • 11 Months Ago
      The german car company's are notoriously corrupt. Don't buy their garbage.
      • 11 Months Ago
      Autoblog has lost control of their RSS too! Good lord figure it out guys! Deleting RSS messages 4 times today from as far back as December is a joke! Geez!
    2016 Porsche Cayenne
    MSRP: $58,300 - $95,500
    2015 Porsche 918 Spyder
    MSRP: $845,000 - $929,000
    2015 Porsche Macan
    MSRP: $49,900 - $72,300
    2015 Porsche 911
    MSRP: $84,300 - $194,600
    2015 Porsche Cayman
    MSRP: $52,600 - $75,200