Cyrrus (Cyrrus)
World markets  |  December 28, 2012 09:58:48

Porsche: The Court of Appeal dismissed the actions against hedge funds carmaker

Court of Appeals in New York yesterday dismissed the 26 hedge funds against Porsche. The company was sued for reimbursement of EUR 0.75 billion for alleged irregularities in shares and options competing automaker Volkswagen from 2008. The reason for dismissal of the action while not granting innocence Porsche but only to recognize that the court can not take place in the U.S. but only in Germany. It was still running a similar application which Porsche can cost up to EUR 4 billion. The judgment of the court today respond Porsche shares leap in almost 7%

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