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Stock Market & Financial Investment News

News Breaks
December 20, 2012
05:38 EDTPOAHYPorsche initiated with a Neutral at JPMorgan
News For POAHY From The Last 14 Days
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August 15, 2014
13:25 EDTPOAHYU.S. appeals court upholds dismissal of Porsche short squeeze suit, Reuters says
Porsche (POAHY) has convinced a U.S. federal appeals court to uphold the dismissal of a lawsuit that alleged the luxury car manufacturer of fraudulently controlling the market in Volkswagen (VLKAY) shares after they quietly amassed a large position in Volkswagen and created a "massive short squeeze" in October 2008, Reuters reported. The U.S. appeals court said Porsche could not be held responsible under U.S. securities fraud laws because the alleged wrongful conduct, which was brought on by more than 30 hedge funds who held short positions in shares of Volkswagen at the time, took place outside of the U.S., Reuters added. Reference Link

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