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Stock Market & Financial Investment News

News Breaks
March 19, 2014
06:50 EDTPOAHYPorsche replaces engines in all 2014 911 GT3 vehicles, Reuters says
Porsche (POAHY) is replacing the engines in all of its current model year 911 GT3 sports cars and has told owners to stop driving the vehicles due to the risk of them catching fire, according to Reuters, citing a company official. Reference Link
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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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