Filed under:
Europe,
Government/Legal,
Porsche,
Volkswagen
Hedge fund managers have been suing
Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over
Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost
their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.
Former Porsche boss Wiedeking won't face criminal charges over VW bid originally appeared on
Autoblog on Mon, 28 Apr 2014 11:01:00 EST. Please see our
terms for use of feeds.
Permalink |
Email this |
Comments
أكثر...
28-04-2014, 06:10 PM
