Reuters – Investors including U.S. hedge fund Elliott Associates have escalated a legal battle against members of Porsche’s supervisory board by seeking 1.8 billion euros ($2.43 billion) in damages from Wolfgang Porsche and his cousin Ferdinand Piech.
The most recent lawsuit forms part of a legal campaign being waged by hedge funds in various courts across the world, seeking to recoup money which was lost by betting on a decline of Volkswagen’s share price in 2008.
