Former Porsche Execs Charged Over Failed VW Deal

Law360, New York (December 19, 2012, 2:29 PM EST) -- German prosecutors Wednesday charged two top former Porsche Automobil Holding SE executives with market manipulation in the German luxury automaker's abortive takeover bid for Volkswagen AG, according to the Stuttgart prosecutors' office.

According to Wednesday news reports, the Stuttgart-based car maker’s former chief executive Wendelin Wiedeking and its former CFO Holger Harter were charged with giving false public statements by Porsche in 2008 in at least five instances, according to a report by The New York Times and a statement by the Staatsanwaltschaft Stuttgart, the prosecutors'...
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