Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.
Access here alternative investment news about VW Was Smart To Fold On Emissions Cheating
Hedge Funds

VW Was Smart To Fold On Emissions Cheating

by posted 2years ago 3444 views
A few years back, German car maker Porsche hired Robert Giuffra of Sullivan & Cromwell to defend the company against fraud suits by hedge funds that alleged they lost more than $US3 billion ($A4.06 billion) shorting Volkswagen shares. The hedge funds accused Porsche of lying about its 2008 accumulation of VW shares and options, squeezing short-sellers when Porsche revealed that it controlled virtually all of VW's publicly sold stock. Porsche denied the claims and litigated the cases aggressively in both state and federal court - a strategy that looked very smart after appellate judges in both jurisdictions tossed...

In this article