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.
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
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
The Volkswagen takeover of Porsche may look like a slam-dunk, but a group of investment funds is hoping to change that. Bloomberg reports that the investment group has filed a lawsuit in Stuttgart, Germany, seeking $2.6 billion in damages. The group's issue traces back several years earlier to when Porsche
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
It's a toss-up when trying to figure out what's more stupid, joyriding employees or a Porsche owner who thinks Circuit City is the best place to perform an audio installation on a 911 Turbo. Luke Liang left his 2008 911 Turbo at the Bridgewater, New Jersey Circuit City store for audio system work, but seeing the Weissach-crested key hanging from a hook was too much for store employee Brian Murphy, who ignored store policy and took the Porsche for a spin. The joyride didn't last long, coming to a
