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Porsche again staring down another $1.8B in hedge fund lawsuits

The 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.

Porsche 911 Targa 4 GTS caters to a very specific customer [w/video]

Porsche is happy to cater to some very specific buyer demographics, and the brand's newly unveiled 911 Targa 4 GTS at the 2015 Detroit Auto Show is the perfect example of that tendency. The sports coupe is aimed at the customer who wants open-air driving without a full convertible, all-wheel drive traction and a little extra performance, all wrapped in a sporty package. Launching in the US in late-April, 2015, for $132,800, plus a $995 destination charge, this high-performance Targa benefits from all of the goodies from Porsche's GTS line. That gives it a 3.8-liter flat-six boasting 424 horsepower and 325 pound-feet of twist, and the choice of either a seven-speed PDK or seven-speed manual. The model also gets the Sport Chrono package, PASM, 20-inch wheels and a sport exhaust. Picking the PDK means the Targa 4 GTS can hit a top speed of 188 miles per hour and sprint to 60 mph in 4.1 seconds. Opting for the manual makes the run to 60 take a few more ticks at 4.5 seconds and scarcely cuts the top speed to 187 mph. The Targa 4 GTS is more than just about boosted performance, and shows off some handsome styling tweaks, as well. It wears a modded front bumper with an extra opening to cool the middle radiator. Plus, the wheels are 20-inch units from the 911 Turbo S, and the Bi-Xenon headlights get smoked coverings. Inside, drivers are held firmly in place by Sport Plus seats covered partially in black Alcantara. Porsche apparently sees a hole in its lineup that a higher-performance Targa can fill, and here it is. Look below for a video of intricate top doing its fascinating dance and read the German brand's full press release about the its latest take on the venerable 911. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The new 911 Targa 4 GTS More powerful, dynamic and exquisitely styled To mark the 50th anniversary of the 911 Targa, Porsche is offering this very popular model in the more powerful and dynamic GTS version for the first time. The targa concept of the 911 Targa 4 GTS delivers very safe driving enjoyment with all-wheel drive and a rollover protection bar; it also delivers open-air fun with a targa top that stows fully automatically. Contributing to a boost in dynamic performance are the 430 hp (316 kW) GTS engine together with the standard Sport Chrono package, PASM chassis, 20-inch wheels and a sport exhaust system.

Porsche Taycan 4S, Ferrari Roma and a tuned Ford Ranger | Autoblog Podcast #624

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Senior Editor, Green, John Beltz Snyder to recap Earth Day 2020 coverage, including a first drive and range test of the 2020 Porsche Taycan 4S, Tesla and the state of the EV industry, and what we think are the best green cars of all time. Then they shift gears to talk about the Ranger pickup getting a tuning package from Ford, as well as their own dives through the Ferrari Roma configurator. They discuss the cars they've been driving — the 2020 VW Jetta and our long-term 2019 Subaru Forester. Lastly, they reach into the mailbag to help a listener buy a used car. Autoblog Podcast #624 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Earth Day recap 2020 Porsche Taycan 4S Tesla and the EV industry The best green cars of all time Ranger gets a tuning package from Ford Configuring the Ferrari Roma Cars we're driving 2020 Volkswagen Jetta 2019 Subaru Forester long-term update Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: