US: Hedge funds sue Porsche over short-selling losses

Certain New York-based hedge funds have filed a lawsuit against German vehicle manufacturer Porsche SE in a New York state court. The lawsuit accuses Porsche of causing more than US$1bn of losses because it hid its plan to corner the market in Volkswagen AG shares. The list of hedge funds participating Subscribe to Automotive World … Continued

• By Webmaster
• March 16, 2011