Wednesday, February 13, 2013

Porsche Stock Manipulation Probe Extended to All Board Members, Including Ferdinand Piech


The year may have started fabulously for Porsche, as global sales in January were up by 25.5 percent to 12,061 deliveries compared to the same month in 2011 (9,613 units), but it now faces new trouble concerning its 2008 failed attempt to acquire VW.

The German manufacturer won a victory in the U.S. a couple of months ago after the New York Supreme Court dismissed a lawsuit filed by 26 hedge funds on jurisdiction grounds. The prosecutors in Stuttgart, Germany, though, are not quite finished.

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