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Porsche Says 12 More Hedge Funds Withdraw U.S. Appeal

Reuters – Porsche SE, the family-controlled holding company that owns a majority stake in carmaker Volkswagen AG (VOW), said an additional 12 hedge funds dropped a U.S. court appeal in a market manipulation suit.

A total of 24 funds have now withdrawn their appeal of an earlier court decision dismissing the case, the Stuttgart, Germany-based holding company said in a statement today. Eight plaintiffs continue to contest the ruling.

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