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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Weekly Recap: Porsche embarks on Mission E

Porsche's board of directors approved the company's first all-electric car Friday, signing off on production of the eye-catching Mission E concept that debuted in September at the Frankfurt Motor Show. It's set for launch by the end of the decade. The Frankfurt concept uses lithium-ion batteries to power two synchronous motors that create more than 600 horsepower and provide a range of 311 miles on the European cycle. It's capable of hitting 62 miles per hour in 3.5 seconds and can run the Nurburgring Nordschleife in less than eight minutes. In a statement, Porsche board chairman Oliver Blume called the Mission E the "beginning a new chapter in the history of the sports car." Porsche is backing that up with a roughly $1.1-billion investment that will create more than 1,000 jobs at its facilities in Zuffenhausen, Germany. The company will spend more than $760 million at its main site there to build a paint shop and a new assembly plant. It will also expand an engine factory to make electric motors. Porsche's renewed electric ambitions come as it grapples with fallout from parent company Volkswagen's diesel-emissions scandal. Porsche uses a VW diesel engine in the Cayenne SUV, which it stopped selling in November until a fix is found. Still, Mission E's scheduled landing could be as much as four years away – when Porsche and VW hope their diesel woes will be long over. The electric strategy is clearly a long play to provide its enthusiast owners with an efficient form of sport and luxury as fuel economy and emissions regulations tighten around the world. And if you still can't wrap your head around electric Porsches, the company also just announced plans to make the 911 Turbo and Turbo S even more powerful. Electric propulsion is part of Porsche's future, but for now at least, it isn't everything. OTHER NEWS VW sales crash 25 percent in November Finally, the other shoe dropped. Volkswagen sales plummeted 25 percent in November as fallout from the company's diesel-emissions scandal finally showed up on the sales charts. VW had managed to tread water with flat sales through September (the scandal broke more than halfway through the month) and October. The company stopped selling its 2.0-liter I4 and 3.0-liter V6 diesels as it works to make the engines complaint with emissions rules. VW admitted to rigging its diesel-powered cars so they could pass emissions tests in the United States and around the world.

Porsche Cayman GT4 Clubsport delivers track-only thrills for $165K

Among the cars on display in Los Angeles, production and concept cars are normal. Racers, though, are rather rare. And race-specific models that can be had for less than $200,000 are more or less unheard of. Don't tell that to Porsche, though, because the German automaker has introduced the new Cayman GT4 Clubsport for the relatively reasonable sum of $165,000. For that supercar-worthy price, you'll be getting a number of race-derived parts. As we covered in our preview post, that will include a strong roster of safety equipment, including a full roll cage and six-point harnesses that will keep you pinned in a purposeful racing bucket. The standard 18.5-gallon fuel tank can be replaced with an optional 26.5-gallon setup, while a central fire extinguisher keeps things from getting too hot out on the track. Mechanically, the Clubsport adjusts the Cayman GT4 formula for the track. The road car's 3.8-liter flat-six engine is still mounted amidships, but it's paired with super-quick, six-speed dual-clutch transmission, the critically acclaimed PDK. It's the suspension, though, that sees the most dramatic changes, as Porsche has pressed the front and rear strut suspension from the 911 GT3 Cup into duty for the GT4 Clubsport. The new system is lighter, and contributes to the track star's 2,866-pound curb weight. That's nearly a 100-pound drop over the road car. A set of four 15-inch steel rotors clamped by six-piston calipers up front and four-piston units in the rear should deliver stopping power as impressive as the cornering and acceleration. Amateur racers interested in the new coupe can purchase it directly from Porsche Motorsports North America for competition in the 2016 racing season. Homologation is still being hammered out, but Porsche expects the GT4 Clubsport to be certified for the "VLN Long Distance Championship Nurburgring, the Ultra 94 GT3 Cup Challenge Canada, the PCA Club Racing Cayman GT4 Clubsport Trophy East as well as for other club-level competition events around the world." Read on for the official press release. New Porsche Cayman GT4 Clubsport for the racetrack World premiere in Los Angeles LOS ANGELES, Nov. 18, 2015 /PRNewswire/ -- Porsche has added a new sports car for amateur and club racing to its Motorsports fleet: The Cayman GT4 Clubsport celebrated its world premiere today at the Los Angeles Auto Show.