Investors target Porsche with new lawsuit-magazine

Newswire

FRANKFURT, May 19 (Reuters) - Indebted automotive holding Porsche SE is facing another lawsuit filed by two U.S. hedge funds seeking damages worth $1 billion, Germany's manager magazin reported on Wednesday citing financial sources. So far, 10 separate fund families controlling a total of 35 individual funds have filed a $2 billion joint lawsuit, claiming Porsche first lied about its takeover intentions for Volkswagen before cornering the market in illiquid voting shares in October 2008. ...

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