Porsche SE Says German Court Has Dismissed $6.1 Billion Lawsuit Brought by Investors
By Dominic Chopping
Porsche Automobil Holding SE said a German court has dismissed appeals from hedge funds seeking damages of around 5.4 billion euros ($6.12 billion) plus interest from the company's failed takeover bid for Volkswagen in 2008.
Around 40 plaintiffs, mostly U.S. hedge funds, had claimed that holding company Porsche SE manipulated the capital markets by not accurately disclosing its true intentions during a gradual build-up of its stake in Volkswagen.
Porsche SE tried to take over the much-larger Volkswagen but ultimately failed.
On Wednesday, the German Federal Court dismissed the plaintiffs' appeal against an earlier ruling by the Higher Regional Court of Celle that had rejected their claims, the holding company said.
The decision is final and it is now established that the plaintiffs have no claim to damages, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 30, 2026 07:14 ET (11:14 GMT)
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