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Us hedge fund suefens porsche

Porsche is again confronted with a lawsuit of us hedge funds in connection with the failed vw revocation. In the case of a court of the state of new york, several hedge funds filed a complaint under glenhill capital capital, as evidenced by a document published on the website of the court of first instance. They claim a damage of a billion us dollar. "We have no knowledge of this lawsuit," said a porsche spokesman on wednesday. "She was not delivered to us yet."

As at the end of december before a new york federal court, the investors intensifies the early porsche management to have exchanged them for their true intentions. Porsche has always denied to take over the majority of volkswagen and thus the investors curled into a trap, it is called in the court documents.

"We generally consider the lawsuits in the united states for unemployed and unfounded," craved a porsche spokesman. Porsche had secured access to a good 74 percent of volkswagen ordinary shares with difficult shared shares. At the same time, investors bet on falling courses. When the scarcity of the freely tradable volkswagen-stamme was known in autumn 2008, the papers shot at a short time over 1000 euros. To serve your business, the investors had to buy a sketched course. You do this damage now.

At the end of december, a new york federal court had dismissed the action of investors with the fundamental, the federal us securities laws found no application to the shares concerned. In this procedure, the liability appeal. They quantifies their damage to two billion dollars. In the next step, court, prosperity and defendant must now have to agree on a schedule for further action.

In germany, the prosecutor continues to determine against the early porsche wendelin wiedeking and holger harter. The legal disputes apply in addition to the unclear tax evaluation as a stumbling block on the way to the planned merger of porsche and volkswagen. According to the failed volkswagen recover, porsche should follow the original timetable in 2011 under the umbrella of volkswagen. Now the volkswagen management, which in personnel union also leads the umbrella company porsche se, is the probability of a merger until the end of the year still to 50 percent.

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