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Porsche suspends ties with Maria Sharapova after drug test

Porsche has reportedly suspended ties with Maria Sharapova after the Russian tennis star failed a drug test. The German automaker stopped short of terminating its relationship with the athlete altogether as it awaits the results of a deeper investigation. The issue emerged at the Australian Open, where Sharapova reportedly tested positive for use of a drug called meldonium. Manufactured in Latvia and prescribed in many former Soviet Bloc countries, meldonium is used to treat heart conditions and improve cardiac circulation. It is not approved by the FDA for use in the United States, and the World Anti-Doping Agency added it to its list of prohibited substances at the start of this year. Sharapova admitted that she's been taking the medication for ten years now but that she did not keep up to date on the WADA's list. Since it is considered a prohibited substance, she's been excluded from participating in the Australian Open this year, and suspended from competition as of March 12. She was also scheduled to take part in the Porsche Grand Prix, a tennis event sponsored by the carmaker in Stuttgart next month which she will now apparently have to miss. One of the top-rated female tennis players in the world, Sharapova has served as a brand ambassador for Porsche since 2013. Other sponsors including TAG Heuer and Nike have also reportedly suspended their relationships with the athlete pending further investigation by the International Tennis Federation. Related Video:

2014 Porsche 911 GT3 and GT3 Cup step out early

Though Porsche won't be feeding us the full 911 enchilada until tomorrow's Geneva-based festivities, we have managed to scare up some official images of the 2014 911 GT3, as well as the all-new 911 GT3 Cup. As Porsche is celebrating 50 years of the 911, we anticipate a good day for great cars.
The new GT3 looks every bit the proper successor to the racy 911 nameplate, with a fixed rear wing large enough to serve cocktails on, a curvaceous body kit and 20-inch wheels that offer a dominating on-road stance. It's a good bet that Porsche will have coaxed something like 450 horsepower from the naturally aspirated, 3.8-liter flat-six engine that hangs over the car's rear axle. A seven-speed manual and Porsche's own PDK transmission are the likely gearbox offerings.
Should the mental quickness and imposing wingery of the standard GT3 not be enough for you, future racecar driver, Porsche is also bringing a GT3 Cup car to Geneva. The German automaker has given just a few scant details about this Cup car - 460 hp on tap, a production run of just 2,400 units - including three images of the kitted out racer. Certainly more and finer details will emerge, when Porsche shines the spotlights on its new 911s tomorrow.

German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit