Porsche Wins Dismissal of Hedge Fund ‘Short Squeeze’ Lawsuit

NYT – A New York State appeals court dismissed a lawsuit brought by hedge funds against Porsche on Thursday, handing the German automaker a big victory in the long-running legal battle over its controversial takeover of Volkswagen.

The Appellate Division decided that the hedge funds lacked jurisdiction to bring a lawsuit in a New York State court, ruling that there was an inadequate connections between New York and the facts of the case. The opinion reverses a trial court ruling last summer that had upheld the action. The decision also mirrors a federal court ruling two years ago that bounced the hedge funds claim.

Read Complete Article (subscription required)

This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply