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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

Ken Block's Gymkhana 8 to feature Dubai Police cars?

Yesterday we showed you the shiny Ford Fiesta that Ken Block will slide, spin, and hoon through the next Gymkhana video. In case the image above isn't clear, that video will drop at midnight EST on February 30th on the Ford Performance YouTube channel. We don't know all the entire premise of the video yet, but this Tweet from the man himself reveals that the video will be set in Dubai. Block is standing on the Fiesta we saw yesterday, and arrayed behind him are a handful of those famous Dubai Police cars you're probably familiar with. The force has a fleet of sportscars and supercars, and the purpose is outreach and goodwill among its citizenry, not necessarily the pursuit of criminals. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. From left to right, we can see a Maserati GranTurismo, Porsche 911, what looks to be a Nissan GT-R obscured by Block's Fiesta, a McLaren (likely a 650S), Ford Mustang, and a Ferrari 599 of some ilk. Will they take part? Maybe Block will try and run from what might be the most horsepower-intensive police fleet in the world. We'll have answers (and a few minutes of pure Block hooniganism) in a few days. Related Video:

Porsche to introduce new Boxster Spyder, Macan GTS this year

Dig the new Porsche Cayman GT4 but really wish it came in open-top form? Love the Boxster GTS but wish it had more punch? Well we've got good news for you, friend, as that seems to be precisely what Porsche has in store. Among the new models the Volkswagen Group has lined up for this year will be a new Porsche Boxster Spyder. Although no details were announced along with the name, there are a few elements we can look forward to. The new Boxster Spyder is tipped to be essentially an open-top version of the Cayman GT4, but just how many of the latter's components will make the jump from coupe to convertible remain to be seen. The GT4 packs the 3.8-liter flat six from the 911 Carrera S with 385 horsepower, channeled to the rear wheels through an old-school six-speed manual transmission. It also has carbon-ceramic brakes, revised aero, and a stiffened suspension. The Spyder version of the previous Boxster arrived in 2009 with a modest 14-horsepower boost, a retuned suspension and a good 176 pounds trimmed off its curb weight thanks to the elimination of the motorized soft top, air-con and other components. That's not all Porsche has in store for 2015, though. The German automaker has also confirmed a Macan GTS is in the works that promises to explore the little crossover's performance potential. Projecting just what Porsche will do to Macan to give it the GTS treatment, though, is a little tricky. Sure, the German automaker already offers GTS of the rest of its lineup, but just where that model slots in to each line varies. On the Boxster and Cayman, it slots in between the S and GT4/Spyder. For the 911, it serves as a mid-point between the Carrera S and the GT3. And with the Panamera and Cayenne, the GTS bridges the gap between the S and Turbo models. Considering both the Macan S and Macan Turbo pack twin-turbo V6s, the Macan GTS could serve as a mid-point between the S and Turbo with around 350-360 hp, or (more likely) top the range with upwards of 420 hp. One way or another, though, we can expect upgrades to the suspension, brakes, rolling stock and trim to complete the package. Most of the rest of the announcements made in VW's annual report we either already knew about or are of little interest, but the document also confirms new Lamborghinis on the way, including two new versions of the Aventador (likely to be the new SV coupe we just saw and an SV roadster) and three more of the Huracan as well, including two Spyder versions of the latter.