Porsche Can't Ditch $1B Investor Suit Over VW Deal

Law360, New York (August 8, 2012, 11:00 PM EDT) -- A New York state judge on Wednesday refused to throw out a lawsuit brought by dozens of hedge funds against Porsche Automobil Holding SE over more than $1 billion in losses related to a proposed 2008 takeover of Volkswagen AG.

Justice Charles E. Ramos rejected the German carmaker’s arguments that New York court was an inappropriate forum for the dispute and that the plaintiffs were sophisticated investors that shouldn't have relied on the statements Porsche made that are at issue in the case.

“This is not...
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