Porsche argues New York is not the forum for suit by hedge funds

Newswire

By Karen Freifeld NEW YORK, Nov 29 (Reuters) - A lawyer for Porsche Automobil Holding SE urged a New York state appeals court to overturn a lower court decision allowing 26 hedge funds to sue the German automaker in the state. The hedge funds filed lawsuits last year claiming they lost $1 billion as a result of what they called Porsche's deceptive manipulation of the market for Volkswagen AG shares in 2008. The hedge funds said they sold ...

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