U.S. Court dismisses hedge-fund lawsuit against Porsche

trymee submitted on 1/3/2011 Auto Spies Photos Timestamp: 1:46:53 PM

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U.S. District Judge Harold Baer in Manhattan dismissed two lawsuits that claimed that Porsche Automobil Holding SE cost hedge funds over $2 billion by deceiving short-sellers in acquiring Volkswagen AG shares in 2008. The ruling had scrapped the complaints filed by hedge funds Elliott Associates LP and Black Diamond Offshore who represented 39 U.S. and foreign-based funds.

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U.S. Court dismisses hedge-fund lawsuit against Porsche

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