New York Appellate Court Rejects Hedge Fund Suit Against Porsche over VW Bid
A New York state appellate court has clamped down on an attempt by a group of hedge funds to get around the U.S. Supreme Court's
decision. Reversing a lower court ruling, the appellate panel found that the hedge funds were barred from suing Porsche AG because neither the defendant nor most of the plaintiffs are New York state residents. The litigation was sparked by Porsche's 2008 announcement that it had amassed close to a 75 percent stake in Volkswagen, which was a disaster for hedge funds that had shorted VW's stock or made swap deals based on its share price.
Your article was successfully shared with the contacts you provided.
This premium content is locked for The American Lawyer subscribers only.
Subscribe now to enjoy unlimited access to The American Lawyer content,
5 free articles* across the ALM Network every 30 days,
Exclusive access to other free ALM publications
And exclusive discounts on ALM events and publications.
*May exclude premium content Already have an account? Sign In Now
Interested in customizing your subscription with Law.com All Access?
Contact our Sales Professionals at 1-855-808-4530 or send an email to firstname.lastname@example.org to learn more.
As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters.
Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss.
Tailored just for you. In your inbox. Every day.