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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.

Jay Leno welcomes Emory's outlaw Porsche 356s

Classic cars can have a lot of character, but purposely passing up on some of the enormous advancements made to the automobile over the decades since those classics were made can be a difficult proposition. That's where restomodders like Emory Motorsports come in. Emory specializes in customizing Porsche 356s, modifying them to their clients' specifications and giving them an added dose of performance and refinement, all without losing that timeless appeal. The LA-based company is headed up today by third-generation Southern Californian gearhead Rod Emory. After seeing some examples of his work out on the road, Jay Leno invited Rod by the garage along with a pair of his company's custom creations. Both are based on 356 coupes from the late 1950s, but take pretty different approaches in their comprehensive restoration and extensive modification. Since classic Zuffenhausen enthusiasts are notorious for their rigid adherence to originality, Emory's modified 356s are deemed to be "outlaws" by many on the vintage Porsche scene. But they've also gained quite a following, similar to what Singer has done with 911s. Whether you're more inclined to cling to authenticity along with the purists or embrace the novelty espoused by the restomodders, after scoping out these irresistible specimens, you'll have to admit that Emory does some pretty compelling work. Watch the 25-minute video clip above to see what we mean, and check out Petrolicious' profile of the same company's work from last year for another look.

Supercar 'Holy Trinity' raced at the track, drag strip, and to 186 mph

There was a time when we weren't sure if we'd ever get the Ferrari LaFerrari, McLaren P1, and Porsche 918 Spyder on the track together. Now, we've have a multi-part series dissecting how each supercar approaches all kinds of go-fast tasks. Supercar Driver (SCD) looks at their performances around the track, on the drag strip, and on a runway. SCD didn't get any help from the automakers, it used three cars all owned by one British gentleman, Paul Bailey. The first video has British Touring Car Championship driver Mat Jackson running all three around Silverstone. The second video takes the coupes to Santa Pod Raceway to run the quarter-mile. The third video runs them out to Bruntingthorpe Airfield for a drag race to 300 kilometers per hour (186 mph). We found that latter video especially interesting because SCD shows a graph of how fast each car hit speed marks, and it's interesting to see where the winner made up all of its time and the where the third-place getter lost its time. Nota bene, the McLaren is using its fly-paper sticky Pirelli P Zero Trofeo R tires. You'll find the first video in the series above, the second two videos below. If you still haven't had enough, then check out the Hyper 5 three-part series by Alejandro Solomon filmed at California's Thermal Raceway, starting with the Holy Trinity and adding the Bugatti Veyron Super Sport and Pagani Huayra. Chris Harris also did fantastic work around Portimao with the help of Marino Franchitti and Tiff Needell, with assistance from the factories. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ferrari McLaren Porsche Convertible Coupe Hybrid Luxury Special and Limited Editions Performance Supercars Videos porsche 918 spyder mclaren p1 ferrari laferrari