Porsche Ditches Hedge Funds' $2B Suit Over VW Bid

Law360, New York (March 17, 2014, 6:16 PM EDT) -- Porsche Automobil Holding SE peeled out of another suit over its 2008 bid to take over Volkswagen AG when a German regional court on Monday dismissed a €1.36 billion ($1.89 billion) lawsuit brought by a group of hedge funds that claimed they had lost money due to the attempted takeover.

A group of 23 hedge funds — including Viking Global Equities LP, Glenhill Capital LP and David Einhorn’s Greenlight Capital Inc. — had filed suit seeking damages over the way in which Porsche had handled the takeover...
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