A PYMNTS Company

Germany: Defunct Porsche, Volkswagen merger launches billion-dollar lawsuit

By  |  August 16, 2013

Hedge funds are reportedly suing luxury carmaker Porsche SE $2.4 billion the plaintiffs claim they lost following the failed merger plans between Porsche and Volkswagen AG. The lawsuit claims Porsche manipulated Volkswagen share values by not offering interest before submitting a bid for the company, essentially lying about wanting to acquire the competing car company. Similar claims were unsuccessfully brought to a German tribunal last year, but reports say this lawsuit is now adding claims against Porsche that requires the case to enter into a cartel court. Even if claims are rejected, say reports, the court will be forced to look into the allegations of market manipulation itself.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.