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Porsche Seeks to Reverse Hedge Fund Suit Ruling in New York

BusinessWeek – Porsche SE is seeking to reverse a ruling that the carmaker must face a lawsuit by hedge funds accusing it of hiding a plan to corner the market in Volkswagen AG shares.

Porsche today asked the New York State Supreme Court’s Appellate Division in Manhattan to overturn Justice Charles Ramos’s August decision rejecting its motion to dismiss the 2011 lawsuit by 26 hedge funds including David Einhorn’s Greenlight Capital Inc.

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