Germany Clings To Volkswagen Law

Law360, New York (September 3, 2008, 12:00 AM EDT) -- The German state of Baden-Wuerttemberg has reportedly failed in its mission to persuade the rest of the country to overturn a controversial law protecting automobile giant Volkswagen AG from hostile takeovers despite mounting pressure from the European Union.

On Tuesday, the state's petition to abolish the law was defeated, with five of the 16 states choosing to abstain from the upper parliament vote in a tepid — rather than outright — show of defiance, Dow Jones reported.

"The opposition of the other states to abolish the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.