Hedge Funds Drive Porsche-VW Deal Case To 2nd Circ.

Law360, New York (February 2, 2011, 8:25 PM EST) -- Hedge funds that attempted to recoup about $2 billion in losses from Porsche Automobil Holding SE's prospective takeover of Volkswagen AG have appealed a decision to toss their claims based on a key U.S. Supreme Court securities ruling.

Parkcentral Global Hub Ltd. filed a notice Wednesday in the U.S. District Court for the Southern District of New York of its plans to appeal the Dec. 31 ruling. It is the latest of several hedge funds, including BlueMountain Capital Management LLC, Seneca Capital LP and Black Diamond...
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