A court in Stuttgart, Germany, has dismissed a lawsuit brought against Porsche SE – the investment company that controls the eponymous German carmaker – by a group of hedge funds seeking €1.4 billion in damages.
The hedge funds claimed Porsche mislead the markets back in 2008 over its takeover plans for rival German car brand Volkswagen.
The Piech and Porsche families, who are descendants of Ferdinand Porsche, the carmaker's founder, control Porsche SE.
