Porsche Wins Court Case Over Alleged Market Manipulation

Porsche SEPorscheGermany, 1931 > present43 models
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, the holding company that operates as an intermediary between VW AGVolkswagenGermany, 1938 > present98 models
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and Porsche AG, has won a major court case in Braunschweig, Germany, over alleged market manipulation. The judge dismissed two, law suits totaling €4.7 million against Porsche.

Porsche was accused of releasing purposefully incorrect financial information in 2008 while it was trying to take over Volkswagen. The cases were brought by a private investor and a Swiss investment company. 

The company is not out of trouble yet. There are still three more cases pending against Porsche with total losses totaling more than a billion euros. If these cases are successful, it could have a disastrous effect on Volkswagen, Porsche's new owner. These cases will likely reach the court in spring 2013. 

In the mean time, Porsche's stock price increased 5.8% after the court decision, and Volkswagen's share price increased by 1.25%. 

Source: Spiegel