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Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Prosecutors in Argentina wants Top Gear to stand trial

Jeremy Clarkson may have left Top Gear behind, but some of his actions on the show may come back to haunt him. Prosecutors in Argentina reopened a criminal case against Clarkson last week, which may result in a prison sentence, over last year's now infamous insulting license plate incident, the Telegraph reported. Top Gear, and Clarkson in particular, had a reputation for going out of their way to insult other cultures. Clarkson was already on notice for racist remarks and social media posts when he punched a producer, ending his career at the BBC. So it was not a huge surprise when the team ran into trouble in Argentina while filming a 1,400-mile road trip for the show's 2014 Christmas special. Now for the history; Argentina and England have a long running disagreement that goes all the way back to the age of empire. At various times, a small set of islands off the coast of Argentina, called the Falklands, have had French, British, Spanish, and Argentine settlements. Britain claimed for their own in 1833. In 1982, Argentina and Britain fought a short, bloody war over the islands. Britain emerged victorious and still holds the islands to this day, though Argentina still claims them. Enter the Top Gear lads and their cars. Clarkson was driving a Porsche 928 with a license plate reading H982 FLK. Producers for the show deny up and down that the plates were not intended to cause such ire. Intentional or no, residents took the plate as a jab at the country's defeat in 1982. First, Clarkson was banned from the city where the road trip was supposed to wrap up. Then, angry Argentines threw stones at the hosts, forcing Top Gear to abandon filming and flee the country. In April, a judge deemed the plates intentionally disrespectful and blamed the show for causing a riot. Now the case is being reopened in Argentine courts, partly at the urging of veterans from the Falklands War. Prosecutors are saying that Top Gear changed the Porsche's plates with full knowledge that such actions were illegal. The case could take years to wind its way through the court system and drag all three Top Gear presenters in front of a judge. At the end, if found guilty, Clarkson could face three years in an Argentine prison.

Porsche Goes After Tesla, VW Group Night | Autoblog Minute

Volkswagen Group Night kicks off the 2015 Frankfurt Motor Show with big news from Porsche and Mercedes.