Cars
The automotive world was taken by surprise on October 17, 2007, when Porsche CEO Wendelin Wiedeking announced in an interview on the Sunday Times that the Stuttgart sports carmaker was ready to take over VW.
- Porsche Wins New York Case Over Vw Takeover After Appeals Court Rejects Lawsuit
The issue of Porsche’s failed attempt to acquire Volkswagen in 2008 has surfaced again. Last week the automaker’s former CEO Wendelin Wiedeking and ex-COO Holger Haerter were formally charged in Stuttgart, Germany with market manipulation....
- Everybody Join In! More Hedge Funds Join Anti-porsche Lawsuit
In a continuation of the Porsche-Volkswagen takeover/stock controversy, 18 hedge funds added their names to a list of people taking Porsche to court in a $2 Billion lawsuit here in the States. Porsche, Wendelin Wiedeking (former CEO), and Holger Härter...
- Volkswagen And Porsche Close Merger Deal
Europe's largest automaker, Volkswagen, and Porsche announced today that they reached an agreement to merge their operations to create an integrated automotive group led by VW. Under the agreement, Volkswagen will buy a 42 percent stake in Porsche's...
- Porsche’s Board Gives The Green-light To Buy Majority Stake In Vw Group
Following a meeting held earlier today (Monday, March 3), Porsche’s Supervisory Board authorized the Managing Board to go-ahead and initiate all steps needed to increase the sports carmaker stake in Volkswagen AG to more than 50 per cent. Porsche...
- Porsche Threatens To Take Legal Steps Over Eu’s Proposed C02 Limits
Porsche has threatened that it will take legal action against the European Union (EU) if legislators go ahead and enforce the proposed CO2 emissions limits that would cut average carbon dioxide emissions for new vehicles sold in the 27 member states of...
Cars
Investors Sue Porsche for $2.6 Billion Over Unsuccessful VW Takeover
The automotive world was taken by surprise on October 17, 2007, when Porsche CEO Wendelin Wiedeking announced in an interview on the Sunday Times that the Stuttgart sports carmaker was ready to take over VW.
Wiedeking expected the so-called “Volkswagen lawâ€, which stipulated that no shareholder could have more than 20 percent of the voting rights of Europe’s number one car manufacturer, to be ruled illegal by the European Court of Justice.
However, things didn’t turn out as Wiedeking expected and in 2010, 18 hedge funds filed a US$2 billion lawsuit in the U.S. accusing the company and its former CEO (Wiedeking) and CFO (Holger Härter) for manipulating the market and trying to cover up the losses Porsche suffered after VW shares soared.
Read more »- Porsche Wins New York Case Over Vw Takeover After Appeals Court Rejects Lawsuit
The issue of Porsche’s failed attempt to acquire Volkswagen in 2008 has surfaced again. Last week the automaker’s former CEO Wendelin Wiedeking and ex-COO Holger Haerter were formally charged in Stuttgart, Germany with market manipulation....
- Everybody Join In! More Hedge Funds Join Anti-porsche Lawsuit
In a continuation of the Porsche-Volkswagen takeover/stock controversy, 18 hedge funds added their names to a list of people taking Porsche to court in a $2 Billion lawsuit here in the States. Porsche, Wendelin Wiedeking (former CEO), and Holger Härter...
- Volkswagen And Porsche Close Merger Deal
Europe's largest automaker, Volkswagen, and Porsche announced today that they reached an agreement to merge their operations to create an integrated automotive group led by VW. Under the agreement, Volkswagen will buy a 42 percent stake in Porsche's...
- Porsche’s Board Gives The Green-light To Buy Majority Stake In Vw Group
Following a meeting held earlier today (Monday, March 3), Porsche’s Supervisory Board authorized the Managing Board to go-ahead and initiate all steps needed to increase the sports carmaker stake in Volkswagen AG to more than 50 per cent. Porsche...
- Porsche Threatens To Take Legal Steps Over Eu’s Proposed C02 Limits
Porsche has threatened that it will take legal action against the European Union (EU) if legislators go ahead and enforce the proposed CO2 emissions limits that would cut average carbon dioxide emissions for new vehicles sold in the 27 member states of...