Black Diamond Offshore and Elliott Associates LP, claiming Porsche Automobil Holding SE cost hedge funds more than $2 billion by misleading short-sellers in its acquisition of Volkswagen AG shares in 2008, appealed a judge’s ruling dismissing their lawsuits against the sports-car maker.
Funds of David Einhorn’s Greenlight Capital Inc. and Julian Robertson’s Tiger Management LLC are among 18 short sellers of Volkswagen AG stock that joined a fraud lawsuit against Porsche Automobil Holding SE.
A Stuttgart court threw out market manipulation charges against former Porsche SE Chief Executive Officer Wendelin Wiedeking, imperiling multiple probes over the company’s failed bid to use options to acquire Volkswagen AG.
Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by U.S. securities regulators, to determine whether to pursue a criminal case, according to two people familiar with the matter.
Porsche Automobil Holding SE scored a victory in its battle against investors seeking a total of 5 billion euros ($7 billion) over claims the German carmaker lied during its failed bid to takeover Volkswagen AG in 2008.
The role of Porsche SE’s supervisory board during a failed bid to take over Volkswagen AG is being investigated as a three-and-a-half-year-old market manipulation probe spreads to the family of the company’s founder.