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Porsche Hedge Funds Suit Has High Risk of Loss, Judge Says

Bloomberg – Porsche Automobil Holding SE, facing lawsuits seeking a combined 5 billion euros ($6.8 billion) over its aborted takeover of Volkswagen AG, may win dismissal of one of the cases in Germany.

Arguments by the plaintiffs, 23 hedge funds including Viking Global Equities LP, Glenhill Capital LP and David Einhorn’s Greenlight Capital Inc., haven’t convinced the court so far in the 1.4-billion euros lawsuit, Presiding Judge Carola Wittig said at a hearing in Stuttgart today. The court’s assessment is preliminary and may still change after hearing more arguments, she said.

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