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German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Porsche revisits the 911's dirty side with rally history film

It might not be a coincidence that there are rumors of Porsche revealing a safari version of the 911 at April's Beijing Motor Show, just as the Dakar Rally is about to begin. Adding fuel to the dusty desert fire is a just-released official video of Jeff Zwart driving the Porsche 953 that Jacky Ickx drove to victory in the 1984 edition of the race.
In the video, the seven-time Pikes Peak International Hill Climb winner talks about how he grew up with the 911; it wasn't only the car he learned to drive in, it was his choice of racecar no matter whether the course was tarmac or the dirty stuff.
You can decide for yourself if these recent events are mere coincidence while you enjoy the 953's exhaust note in the video below. If you've got the time to see the 953 during its race-conquering drive and find out what the ersatz Paris-Dakar Rally used to be, we've also included a broadcast of that 1984 race below as well. Fast-forward to 19:44 to see the Porsches cross the open dessert and 29:09 to watch one of them tackle the dunes.

The 2014 Rolex 24 at Daytona: What we learned, what we saw

Two days after the flag dropped on the 2014 Rolex 24 at Daytona, people are still trying to figure out what it might portend for the rest of the season. In 24 hours, two minutes and 24 seconds, 695 laps were completed by the car that crossed the line first. During that time, 67 cars began the race, 18 of them retired. There was that accident, and a red flag. There were supposedly slower classes beating supposedly faster classes. There were 16 caution periods, including that yellow flag. And then there was The Decision. And Then The Uproar. And then The Reversal.
There was also some pretty good racing, so let's have one last look at the weekend. Oh, and there was that 1964 Ferrari 250 GTO Series II...
If you want to skip the reading bits and go to the photos, there's a high-res gallery of 158 images above and a couple more below. Enjoy.