Judge Lifts Litigation Hurdle To Porsche-VW Merger

Law360, New York (January 3, 2011, 2:46 PM EST) -- A federal judge has tossed lawsuits brought by hedge funds seeking to recoup more than $2 billion in losses stemming from Porsche Automobil Holding SE's prospective takeover of Volkswagen AG, potentially removing the largest roadblock to the deal.

Judge Harold Baer of the U.S. District Court for the Southern District of New York ruled Thursday that the hedge funds' claims were blocked by a June 2010 U.S. Supreme Court decision barring so-called foreign-cubed securities litigation.

The high court's ruling in Morrison v. National Australia Bank Ltd....
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