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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.

Supercar 'Holy Trinity' raced at the track, drag strip, and to 186 mph

There was a time when we weren't sure if we'd ever get the Ferrari LaFerrari, McLaren P1, and Porsche 918 Spyder on the track together. Now, we've have a multi-part series dissecting how each supercar approaches all kinds of go-fast tasks. Supercar Driver (SCD) looks at their performances around the track, on the drag strip, and on a runway. SCD didn't get any help from the automakers, it used three cars all owned by one British gentleman, Paul Bailey. The first video has British Touring Car Championship driver Mat Jackson running all three around Silverstone. The second video takes the coupes to Santa Pod Raceway to run the quarter-mile. The third video runs them out to Bruntingthorpe Airfield for a drag race to 300 kilometers per hour (186 mph). We found that latter video especially interesting because SCD shows a graph of how fast each car hit speed marks, and it's interesting to see where the winner made up all of its time and the where the third-place getter lost its time. Nota bene, the McLaren is using its fly-paper sticky Pirelli P Zero Trofeo R tires. You'll find the first video in the series above, the second two videos below. If you still haven't had enough, then check out the Hyper 5 three-part series by Alejandro Solomon filmed at California's Thermal Raceway, starting with the Holy Trinity and adding the Bugatti Veyron Super Sport and Pagani Huayra. Chris Harris also did fantastic work around Portimao with the help of Marino Franchitti and Tiff Needell, with assistance from the factories. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ferrari McLaren Porsche Convertible Coupe Hybrid Luxury Special and Limited Editions Performance Supercars Videos porsche 918 spyder mclaren p1 ferrari laferrari

Autoblog Unplugged: 2015 Porsche 911 Targa 4S

The day began cold and clear. It felt like a perfect late autumn afternoon to flog the 2015 Porsche 911 Targa 4S on the backroads west of Detroit. So it seemed, anyway. An impromptu snow squall came out of nowhere, dampening the roads and our spirits, though the latter quickly were lifted as we began putting our German sports car through its paces. Quite simply, the 911 Targa 4S is up for almost everything. The all-wheel-drive system kept us poised and secure – it takes a bit to unsettle this 911 when all four wheels are clawing at the pavement. We still had 400 horsepower on tap, which is a riot to channel via the seamless PDK gearbox in any condition. Yes, this is a Targa, so even in the snow we dropped the top, cranked the seat heaters and had a heck of a good time. It's hard not to when you're motoring in something that starts at more than $120,000. Still, weather in Michigan can throw anyone a curve. We dealt with it, and luckily, you don't have to. In this Autoblog Unplugged you get all the good stuff. The purr and whine of the engine. Up-close shots of the Targa as it tackles the road – and best of all – no talking. Unplugs are all about driving. Thus, we'll shut up. Please enjoy.