2012 Volkswagen Passat 4dr Sdn 2.0l Dsg Tdi Sel Premium 31077 Miles on 2040-cars

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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.

VW internal investigation finds 'no evidence' against suspended engineers

Volkswagen is still working out the chain of events that led to emissions-evading software being installed in 11 million diesel vehicles worldwide and deciding who was responsible for the treachery. So far, the German automotive giant's internal investigation hasn't publicly named many suspects, and three suspended executive-level engineers have been found not to be culpable in the wrongdoing, according to an anonymous insider speaking to Reuters. VW knows that the software began being installed in the EA 189 engine in 2008. The internal investigation has found that the emissions-evading tech was created because the powerplant was found to fail US standards. Plus, the diesel mill wasn't meeting cost targets, according to Reuters. The automaker responded by suspending over 10 employees, but three top engineers among them might not have been involved. Those put on leave include Heinz-Jakob Neusser from VW, Ulrich Hackenberg from Audi, and Wolfgang Hatz who led Porsche's research and group-wide engine development. The internal detective work hasn't turned up any evidence against these three men. In addition to VW's own inquires, government investigators in both the US and Germany are taking a serious look into the company's actions, too. So far, the automaker is setting aside about $7.3 billion to pay to fix the vehicles with the evasive software. Depending on what authorities find, the costs could grow quickly. Beyond the financial implications, the scandal has led to a serious shakeup in VW's corporate structure. Related Video:

The VW diesel scandal is now a Halloween costume

Can't figure out what costume to wear at your upcoming Halloween party? Love cars? Have a bunch of auto enthusiast friends who appreciate a super timely joke? Well, fear not. You're set for this season. HalloweenCostumes.com presents the VW Diesel Scandal costume, complete with toxic gas mask, fuel canister, and a cute little car blowing a plume of smoke. It's a full do-it-yourself job, and the site shows all of the necessary parts you'll need to make your very own scandalous outfit. And no, we aren't sure why the male model isn't wearing a shirt. "I'm a car guy and a Passat driver before it broke down, so I never wanted to make light of the VW scandal. I actually really like the brand," HalloweenCostumes.com's Marlon Heimerl tells Autoblog. "But I'm also an environmentalist and marketing manager for a Halloween company. So fair is fair, just doing our job." "The biggest news stories and scandals in particular always find their way to the top of the list for the topical costumes of the year," HC's vice president of marketing, Troy Eaves, writes to Autoblog. "Sure, car scandals happen all the time, but on a much smaller scale both in terms of the total number of cars effected, and the actual parts in question are usually replaceable through a recall. This one was much larger scale, affected millions of consumers, and the damage can't really be undone. This rings 'big costume' for the Halloween industry." Credit where credit is due, this is pretty funny. Now, bring on the Sexy VW Diesel Scandal treatment.