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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

Recharge Wrap-up: Zero takes electric motorcycles to cop expos, Chevy Volt powers dealership's Internet

Zero Motorcycles will be at three law enforcement conferences this month, including COPSWEST Training and Expo, Los Angeles County Sheriff's Department Law Enforcement Vehicle Test and Emergency Vehicle Product Expo and International Association of Chiefs of Police Expo. Zero will display its recently debuted 2015 line of electric motorcycles at the events including the new FXP, a police-duty version of it FX "Stealthfighter." Zero also offers the MMX, SP and DSP for police and military use. Learn more about the events in the press release below. Volkswagen Group CEO Martin Winterkorn told European regulators that more stringent emissions standards too soon will be a major problem for automakers. He says that such moves could prove "fatal" for an auto industry that is still working to develop cleaner vehicles. "Every gram of CO2 that we save in our European fleet costs our group almost 100 million euros," says Winterkorn, "100 million that we have to invest in advance, without knowing when these investments pay off." He says that already creating emissions targets beyond those set for 2020 could harm European automakers competing globally. Read more at Automotive News Europe. When a Detroit Chevrolet dealership lost its Internet connection, it turned to one of its Chevy Volts for a temporary fix. After the regular connection at Buff Whelan Chevrolet went down, it plugged in a Volt showroom model equipped with 4G LTE, and used its connection to resume business. The car can handle up to seven connected devices, so the team used a Malibu to connect the rest of its computers. When a customer asked why the Volt was on, the team explained the whole situation, leading to one impressed customer. Read more at Automotive News. Zero Motorcycles To Attend Law Enforcement Conferences 2015 Police and Authority Motorcycles to Appear at IACP SANTA CRUZ, Calif., Oct. 2, 2014 /PRNewswire/ -- Zero Motorcycles, the global leader in the electric motorcycle industry, announced today that it is attending three leading law enforcement conferences in October: - COPSWEST Training and Expo. October 6-9, 2014. Long Beach, California. - Los Angeles County Sheriff's Department Law Enforcement Vehicle Test and Emergency Vehicle Product Expo. October 16, 2014. Fontana, California. - IACP Conference and Expo. October 25-28, 2014. Orlando, Florida. "These events provide a great opportunity to present our patrol motorcycles and accessories.

Volkswagen Golf R Variant ready to haul ass, stuff

Volkswagen seems to be playing a cruel trick on the American automotive public at the Los Angeles Auto Show. It's displaying its sexy Golf R Variant with no clear intention of actually selling the model here. The hot wagon launches in Europe in the spring, but the automaker makes absolutely no mention of the model's prospects in the US. Hopefully, its appearance in LA at least indicates VW is considering bringing it stateside. The great thing about this wagon is that it has everything that the regular Golf R offers, but there's even more room to carry stuff. The same 2.0-liter turbocharged four-cylinder engine makes 296 horsepower and 280 pound-feet of torque with a six-speed dual-clutch gearbox and 4Motion all-wheel drive. Performance is very close, too, with the Variant R taking 5.1 seconds to get to 62 miles per hour versus the 4.9 seconds the standard R needs to read 60 mph. The two of them also have the same tech goodies like ESC Sport stability control and multiple damping modes. The real advantage to opting for the estate is its ability to carry up to 57.2 cubic feet of cargo in the back. This hot rod wagon would seem to be perfect for the family that needs to haul some extra junk in the trunk, but doesn't want to sacrifice performance. Whether the Variant R makes it to the US remains a mystery, though. Scroll down to read the specs and feel a twinge of jealousy.