Investors are appealing a German court's ruling last year over a lawsuit regarding Porsche's attempted takeover of Volkswagen. It could cost the company $1.4 billion, but a German judge thinks the case is likely to be dismissed again.
- Chris Bruce
- Feb 26, 2015
- George Kennedy
- Aug 7, 2012
A lawsuit that pits hedge funds against creditors is going to trial today, and the outcome could threaten to unravel "New General Motors."
- Zach Bowman
- Mar 16, 2011
A group of New York hedge funds have filed suit against Porsche for cornering the market on Volkswagen stock, according to Reuters. The lawsuit claims that the German automaker caused $1 billion in losses by discreetly buying up every freely traded share of Volkswagen stock in an attempt to take over the company in 2008. When Porsche revealed what it had done, Volkswagen stock prices leapt. The hedge funds, meanwhile, had bet big that Volkswagen shares would actually see a dip, and the reversal
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