A suit filed yesterday by Elliott Associates LP, Glenhill Capital LP, Glenview Capital Partners LP and other financial firms who were NSFWd by Porsche‘s attempted takeover of VW, alleges Porsche “manipulated the price of VW stock as it secretly accumulated control over almost all of VW’s freely traded shares” [suit available for online viewing here]. Porsche has been under investigation in Germany for stock manipulation since October of 2008, and the legal wardrums have been sounding ever since. The plaintiffs are seeking over a billion dollars in damages… and yes, Bertel, one of the plaintiff hedge funds (Glenview Capital) is owned by Goldman Sachs. What is it that they say about payback again?
Posted in Germany, High Finance, News Blog
Tagged as Germany, Goldman Sachs, Hedge Funds, Porsche, Volskwagen
Tagged as Germany, Goldman Sachs, Hedge Funds, Porsche, Volskwagen
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