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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

VW, Mobileye to bring new automated tech to series production

Volkswagen will bring new automated driving technologies to series production as it deepens its partnership with Mobileye in automotive driving technologies, Europe's biggest carmaker said on Wednesday. Israeli automotive tech company Mobileye will provide driving assistance software based on its SuperVision and Chauffeur platforms to VW's luxury brands such as Audi, Bentley, Lamborghini and Porsche. The technologies, which later will be integrated by VW's software unit Cariad, include assistance systems for highway and urban driving, such as automated overtaking on multilane highways, automatic stopping at red lights and stop signs, and support in intersections and roundabouts. "New automated driving functions will significantly boost convenience and safety," VW Chief Executive Oliver Blume said. Mobileye is also set to supply further automated driving software to Volkswagen's commercial vehicles unit. In future, the German carmaker aims to rely on its own complete in-house software system. (Reporting by Christoph Steitz, writing by Andrey Sychev, Editing by Miranda Murray and Madeline Chambers)

Watch the Porsche 911 R rip through the mountains

A few days ago, the top-tier driver's Porsches, the 911 GT3 and GT3 RS, were the only game in town. Both are exclusively equipped with the technically excellent PDK, a dual-clutch gearbox virtually without equal. Of course, lots of folks, including Porsche die-hards, wanted to do it themselves, even if human shifts came at the expense of milliseconds of shift time. Porsche listened. You read all about the new 911 R two days ago when it was announced (if not, watch the video and then dive into the particulars at that link). It's an unabashed gift to that vocal minority. The folks that wanted a manual GT3 got one, and it's better than that. It's a throwback to the original 911 R, stripped of weight and unsightly aero bits like the massive rear wing of the GT3. There's even houndstooth-patterned cloth on the sport seats. It's a brilliant homage, without being overly retro. But how does it sound, and look in motion? See for yourself. We humbly suggest minding where the drool lands. Related Video: Porsche Coupe Performance Videos 911 porsche 911 r 911 r