2003 Volkswagen Passat W8 Sedan 4-door 4.0l on 2040-cars
Van Nuys, California, United States
Body Type:Sedan
Vehicle Title:Clear
Engine:4.0L 3998CC 244Cu. In. W8 GAS DOHC Naturally Aspirated
Fuel Type:GAS
For Sale By:Dealer
Make: Volkswagen
Model: Passat
Warranty: Vehicle does NOT have an existing warranty
Trim: W8 Sedan 4-Door
Options: Sunroof, 4-Wheel Drive, Leather Seats, CD Player
Drive Type: AWD
Safety Features: Anti-Lock Brakes, Driver Airbag, Passenger Airbag
Mileage: 65,780
Power Options: Air Conditioning, Cruise Control, Power Locks, Power Windows, Power Seats
Sub Model: W8 4Motion
Exterior Color: Blue
Interior Color: Gray
Number of Doors: 4
Number of Cylinders: 8
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Auto Services in California
Yes Auto Glass ★★★★★
Yarbrough Brothers Towing ★★★★★
Xtreme Liners Spray-on Bedliners ★★★★★
Wolf`s Foreign Car Service Inc ★★★★★
White Oaks Auto Repair ★★★★★
Warner Transmissions ★★★★★
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Porsche again staring down another $1.8B in hedge fund lawsuits
Wed, 15 May 2013The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.
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