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Germany: Porsche scores latest win in failed VW merger battle

 |  July 30, 2014

Porsche Automobil reportedly scored its latest victory in court as it faces lawsuits over its failed acquisition of Volkswagen.

According to reports, one lawsuit against Porsche filed by a private investor was dismissed by the Braunschweig Regional Court, while a separate suit seeking nearly $1.75 million was postponed. The postponement will allow the plaintiff to choose whether he would like to maintain his suit’s antitrust arguments, which would move it to another court.

Porsche has steadily been securing victories in the dispute that first began in 2008 after it disclosed that it had access to a 74.1 percent share of VW. In total, lawsuits over the aborted takeover attempts are seeking $6.7 billion from the luxury car maker.

Last March, however, Porche won a dismissal of yet another suit filed by hedge funds in Germany, though the case has been appealed. A month later, judges tossed criminal charges against Porche executives, though that ruling has also been appealed.

Full content: Bloomberg

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