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Aston Martin renames Vantage GT3 after Porsche throws hissy fit

Porsche has a long history of using the name "GT3" for its hardcore, naturally aspirated 911 models, and that means it's certainly not going to share it with the likes of Aston Martin. See, it seems the arrival of the Aston Martin Vantage GT3 at the 2015 Geneva Motor Show didn't sit well with Stuttgart, which opted to lawyer up. According to Goodwood Road and Racing, attorneys from both sides of the Channel have been in discussion for months over the issue, with Porsche arguing it's been using the GT3 name since 1999, and that makes it theirs. Aston, though, argues that the FIA GT3 racing series makes the name fair game for road cars. Moreover, the Brits point out that the alphanumeric was in use well before Porsche got its mitts on it – GRR rightly points out the Lotus Esprit GT3 hit the streets three years before the 996 GT3. And while we're on the subject, Bentley has its own GT3, but we're guessing its status as one of Porsche's siblings means its immune to this kind of squabbling. Rather than getting into a knock-down, drag-out courtroom brawl with one of the Volkswagen Group's prized brands, though, Aston has taken the high road. The company will rechristen both the road-going Vantage GT3 and Vantage racer as the GT12. While Porsche is no stranger to aggressively protecting what it views as its closely held vehicle names, we have to admit, it seems like Aston actually has something of a case. Do you think the Brits were right to settle and change the Vantage's name, or should they have taken the fight to Porsche? Have your say in Comments.

Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."