GERMANY: Porsche court hearing postponed until October
A German court has deferred until October investor lawsuits seeking EUR2.15bn (US$2.8 bn) in damages from Porsche SE after the lawyer for the plaintiffs fell ill.
Presiding judge Stefan Puhle said Braunschweig court will decide on 19 June whether a third case seeking EUR2bn in damages will be assigned to a court specialising on cartel matters.
Some German and US investors say that throughout 2008 Porsche's holding company camouflaged its plans to acquire much-bigger Volkswagen and instead secretly piled up its holding in Europe's largest automaker.
In March 2008 Porsche SE dismissed as "speculation" talk that it intended to take over VW. Reuters noted seven months later Porsche SE said it controlled 42.6% of VW's common shares and held options for another 31.5% of the stock it had not disclosed previously.
Porsche's statement caused VW shares to surge to EUR1,005 within days, briefly making the Wolfsburg-based carmaker the world's most valuable company as short-sellers raced to buy back stock they had borrowed to bet that VW shares would drop.
This QUBE report from just-auto provides a comprehensive overview of the global automotive turbocharger sector, major suppliers, top markets, technology trends and market size forecasts. Use this repo...
This QUBE report from just-auto provides a comprehensive overview of the global light vehicle OE automotive door modules sector, major suppliers, top markets, technology trends and market size forecas...
Volkswagen Group's UK luxury car unit Bentley said 2013 sales to the end of September rose 9% year on year to 6,516 cars....
Russian light vehicle sales in September were down 5% on last year according to data issued by the Moscow-based Association of European Businesses (AEB)....
- ANALYSIS - Jaguar takes on Porsche with F-PACE
- THE WEEK - aftermarket player and new products
- Autumn facelift beckons for Citroen's Family hit
- General Motors' platform strategy decoded
- Peugeot steps up a gear with new 3008
- Maserati to double Levante SUV output
- Magna to build aluminium casting facility in UK
- Ford says new Fusion hybrid has 610 miles of range
- Romanian PM asks Ford for more
- Volkswagen nominates 55 FAST suppliers
- Global light vehicle engine technologies market - forecasts to 2030
- Global light vehicle safety systems market - forecasts to 2030
- PLDB - vehicle cycle plan database (12-month membership)
- Global light vehicle roof systems market - forecasts to 2030
- Global light vehicle turbochargers market - forecasts to 2030