8 Articles
Report
GM to buy back $5B in shares, assuaging Harry J. Wilson

General Motors is agreeing to a $5 billion stock buy-back and other provisions in exchange for Harry J. Wilson not running for a seat on its board. The compromise ends an attempt by activist investors to return even more money to shareholders.

Report
German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

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.

Report
Former Porsche boss Wiedeking won't face criminal charges over VW bid

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 charge

Report
$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and Jonathon Ramsey

Report
Porsche board members facing another €1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that resulted in it nearly going bankrupt and eventually

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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses

Report: U.S. hedge funds file lawsuit against Porsche, traders unconcerned

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 pric

Porsche head predicts a hedge fund will swallow GM or Ford

Little guy Porsche is taking huge swings, and not just at the giant that is Volkswagen. Porsche head Wendelin Wiedeking had fierce Teutonic words for General Motors and Ford, and banks. His Rindfleisch – beef, that is – with U.S. automakers is that, through unsound practices, they have thrown absolutely everything into turmoil. In the words of the Guardian, in fact, they have driven "the industry to the brink of ruin."