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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

2015 Porsche 911 GTS starts at $114,200*

Purists often criticize Porsche for creating products like the Cayenne, Panamera and recently launched Macan, saying they dilute the true sports car spirit of the brand. It's an argument we've heard before, and one we counter with two points. First: No they don't. And second: These are Porsche's volume superstars, and the money they rake in allows the company to create dozens of versions of its well-liked sports cars. Want proof? Have a look at the gallery above, where you'll see four new versions of the 911, all with GTS badges on their rumps. This means Porsche now offers 19 versions of the 911. Nineteen.
Porsche offered a GTS version of the 911 in its previous generation, and this new one seeks to slot somewhere between the standard car and the hardcore GT3. It's available in coupe and cabriolet forms, with either rear- or all-wheel drive, starting at $114,200, *not including $995 for destination. The GTS Cabriolet comes in at $126,100, while models equipped with AWD will set you back $120,900 or $132,800 for the coupe or convertible, respectively.
All GTS models get the 430-horsepower version of the Carrera S' 3.8-liter flat-six with the Powerkit, which also includes the Sport Chrono package and the sport exhaust. If equipped with the PDK dual-clutch transmission, the 911 GTS will hit 60 miles per hour in just 3.8 seconds (or four seconds flat, if you've got the Cabriolet) - one tenth of a second quicker than the normal Carrera S. The car's top speed varies, depending on trim or transmission, but Porsche says the car will hit anywhere from 187 to 190 mph, flat out.

Ferrari Speciale and Porsche GT3 make the trip to Le Mans

Call it a pilgrimage. Call it a right of passage. The bottom line is that every racing fan should make the trip to Le Mans at some point. All the better if you can do it in style, as Evo has for this latest video. Instead of taking any old car through the Chunnel and along the French countryside to the famous Circuit de la Sarthe, Evo made the trip in the Ferrari 458 Speciale and Porsche 911 GT3. Both are more extreme versions of the already capable sports cars. They're still naturally aspirated, drive the rear wheels through seven-speed dual-clutch transmissions, and both won top honors in Evo's car of the year awards upon their release. And we could hardly imagine better vehicles for the journey. Along the way, the convoy-of-two stopped by the side of the old Rouen-Les-Essarts circuit. Back in the 1950s and 60s it was regarded as one of Europe's finest street circuits, hosting the French Grand Prix five times. It was closed down and paved over in the decades that followed, and is today part of a public thoroughfare – but you can still drive around it and see some of the relics of its former self peering through. Related Video: News Source: Evo via YouTube Ferrari Porsche Supercars Videos viral video porsche 911 gt3 evo circuit de la sarthe