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Former Porsche boss Wiedeking won't face criminal charges over VW bid

Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

Porsche finally moving ahead with flat four engine

When Porsche released the first Boxster in 1996 and the first Cayman in 2005, the idea was to create an entry-level model for the German automaker's sports car range. The latest iterations of both closely related models, however, have begun to encroach dangerously on the 911's territory, particularly in their newest GTS specifications. That could be about to change, however, with the introduction of a four-cylinder engine for the compact mid-engined coupe and roadster.
According to Automotive News, Porsche is finally preparing to launch a new boxer four engine in the Boxster and Cayman, following years of speculation. The engine would be based on the same architecture as the company's famous flat six, but with two fewer cylinders to cut weight. Don't expect it to cut much in the way of performance, however: Porsche chief Matthias Muller indicates that the new engine could produce as much as 395 horsepower - significantly more than even the 340hp flat six in the Cayman GTS, suggesting that the engine could even find its way into the 911 as well.
It's no more clear which markets would get the four-cylinder engine, either. But wherever it is offered and in whichever form, it wouldn't be the first time we'd see a Porsche with a four-pot engine. Not by a long shot. Both the classic 912 and 356 were powered by boxer fours, as was the 914 - not to mention the 718 pictured above and the iconic 550 Spyder. The front-engined 924, 944 and 968 packed inline-four engines, but the last of those were discontinued in the 1990s. The prospect of a four-cylinder Boxster/Cayman has been rumored for many years now, most recently joined by the possibility of a four-pot Macan as well.

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."