Porsche Wins Dismissal of $5.3 Billion Case Linked to Volkswagen Saga – Bloomberg

Porsche Automobil Holding SE won the dismissal of lawsuits from hedge funds seeking about 5.4 billion euros ($5.3 billion) in damages they say they incurred during Porsche’s failed takeover of Volkswagen AG more than a decade ago.

Institutional investors and private shareholders had pursued Porsche for compensation for losses they suffered in the trading of Volkswagen stock. German judges on Friday also rejected related suits against VW from investors who sought 2.3 billion euros from the automaker because they say it failed to warn them about the alleged market manipulation.

Source: Porsche Wins Dismissal of $5.3 Billion Case Linked to Volkswagen Saga (ETR:P911) – Bloomberg