Tag: Germany

Germany: BaFin Investigating Surge and Fall of VW Shares for Manipulation

Germany’s financial regulator, BaFin, has announced that it will investigate whether the huge jump and subsequent decline in Volkswagen’s share price was due to market manipulation, Citywire reports.  Earlier this week, Volkswagen’s share price more than quadrupled after it was revealed that Porsche had built up a much larger stake in VW than was previously known. The news of Porsche’s…

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“Germany’s Dumbest Bank” Raided by Prosecutors and Police Over Lehman Bros. Debacle

German state-owned bank KfW, in business for over 60 years, saw its Frankfurt headquarters raided yesterday by German prosecutors and police yesterday over “suspected criminal breach of trust,” The Guardian reports.  The investigation is looking into whether the bank’s executives acted criminally in allowing KfW to transfer €319m (approximately $426 million) to Lehman Brothers on September 15, the day it…

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Litigation from Daimler-Benz/Chrysler Combination Lives On in Stuttgart

Apparently the litigation following the 1998 — yes, 1998 — combination of Daimler-Benz AG with Chrysler Corp. will never end.  The AP reports that in Stuttgart, Germany, former DaimlerChrysler AG CEO Juergen Schrempp was back on the witness stand rejecting allegations that the deal he oversaw to create DaimlerChrysler in 1998 undervalued his company’s shares. Schrempp’s testimony was part of…

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