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Germany: Cartel court takes on $2.6B suit against Porsche

By  |  June 19, 2013
Germany: Cartel court takes on $2.6B suit against Porsche

A case seeking damages against Porsche SE has been moved to a cartel court in Germany, according to reports. The $2.6 billion suit against the car company was initiated by investors within Germany and the US alleging that the company deliberately manipulated shares in 2008 after the company failed to take over competing company Volkswagen Group. The saga resulted with VW actually buying out Porsche. It was announced Wednesday that the Braunschweig Regional Court would transfer the case to the tribunal, based in Hanover, due to its ability to hear antitrust cases.

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