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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.

Watch Jay Leno's Garage work on a Porsche 911 and others

Jay Leno doesn't just own a bunch of cars – he restores them. (Or has people who restores them, at any rate.) For this latest video, he's showing us some of the projects he and his team are currently working on. The tour-de-garage starts with a 1953 Cunningham that had been in storage since '68, complete with a copper grille ready for plating and a 331 Hemi V8. Jay says that every one of the cars that Briggs Cunningham made is still on the road – but that's just one of the dozen or so projects Jay and company are working on. There's a suitably brown '71 Porsche 911 T in near-original condition having sat untouched parked underground in Beverly Hills for decades, and a '58 Chrysler Imperial convertible once driven by Clark Gable and Frank Sinatra, and now getting a brake upgrade. There's a Volvo 122 wagon that's been stripped down, media-blasted, and powder-coated, a thousand-horsepower Rolls-Royce, a 1960 Nash Metropolitan, a supercharged Mercedes-Benz 600 Pullman, and a 1914 Detroit Electric. And those are just the four-wheeled automobiles. Over in the two-wheeler section there's a pair of Brough Superiors, a BSA, an Indian, and a custom racing sidecar that Jay's mechanic Bernard is working on. In short, Jay Leno's Garage isn't just one where vehicles are kept – it's one where vehicles are brought back to life. Related Video: News Source: Jay Leno's Garage via YouTube Chrysler Mercedes-Benz Porsche Classics Videos Jay Lenos Garage bsa

Porsche is planning a hybrid version of the 911

Changes at Porsche are coming thick and hot. It's been a few decades since the last major engine technology change – the very dramatic shift from air- to water-cooling. Now we're seeing a turbo shift, in which even pedestrian 911s, Caymans, and Boxsters are being fitted with turbos. Next up is hybrid proliferation throughout the manufacturer's full range. Hybrids aren't new to the Porsche lineup, of course. The Panamera hybrid has appeared in two forms, one in 2012 and one in 2015. Likewise, the Cayenne hybrid was recently upgraded to plug-in spec. The 918 Spyder is also a plug-in hybrid. The 911, Cayman, and Boxster have been left off the hybridization program so far, but that's about to change. The 911 is "next in line" for hybrid tech, says Lutz Meschke, a board member at Porsche AG. That means we'll likely see a hybrid 911 before the fully-electric production Mission E arrives. Every Porsche model will eventually get a gas-electric option, so the Macan crossover and 718 Boxster and Cayman will follow the iconic sports car's lead soon. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The turbocharged base 911 has fractured critical opinion somewhat, although we loved our first drive of the 2017 911 Carrera with its twin-turbo flat-six engine. Do you fear or welcome the coming hybrid epoch? Let us know in the comments. Related Video: