{"id":238375,"date":"2010-01-27T19:29:36","date_gmt":"2010-01-28T00:29:36","guid":{"rendered":"http:\/\/www.egmcartech.com\/?p=49797"},"modified":"2010-01-27T19:29:36","modified_gmt":"2010-01-28T00:29:36","slug":"porsche-being-sued-by-american-hedge-fund-for-more-than-1-billion","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/238375","title":{"rendered":"Porsche being sued by American hedge fund for more than $1 billion"},"content":{"rendered":"

\"\"<\/p>\n

A group of four American hedge fund managers are suing Porsche for more than $1 billion, accusing the company, its former CEO and former CFO of repeatedly lying about their intention to take over Volkswagen.<\/p>\n

The group claims they lost more than $1 billion because they were shorting Volkswagen stock (a process of selling borrowed shares to buy them back cheaper at a later date for a larger difference). Porsche’s announcement send Volkswagen shares skyrocketing\u00a0as the short sellers scrambled to buy back stock.<\/p>\n

\u201cPorsche should be held accountable in a court of law,” said Phil Beck, the funds’ attorney. “We\u2019ll do whatever it takes to make sure that the rule of law is upheld.”<\/p>\n

– By: Stephen Calogera<\/em><\/p>\n

Source: AutoCar<\/a><\/p>\n

<\/img><\/a>
\n<\/img><\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A group of four American hedge fund managers are suing Porsche for more than $1 billion, accusing the company, its former CEO and former CFO of repeatedly lying about their intention to take over Volkswagen. The group claims they lost more than $1 billion because they were shorting Volkswagen stock (a process of selling borrowed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-238375","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/238375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=238375"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/238375\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=238375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=238375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=238375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}