Pursuits
Porsche Sued by Investment Fund Group Seeking EU2 Billion
This article is for subscribers only.
Porsche Automobil Holding SE was sued by a group of investment funds seeking about 2 billion euros ($2.6 billion) in damages allegedly suffered from the carmaker’s failed takeover attempt of Volkswagen AG in 2008.
The group, whose members weren’t identified, filed the lawsuit in the district court of Stuttgart, Germany, according to a statement released on the OTS newswire late yesterday. The plaintiffs also filed an arbitration application regarding Volkswagen, two members of the VW supervisory board and one member of the management board of VW, according to the statement.