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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

12 new cars that will never go out of style

Some cars never go out of style. It’s rare, but it happens. They get old. They get depreciated. But they never stop looking cool.  Some might call them modern or instant classics. Within a few years theyÂ’re no longer the latest and greatest, no longer the flavor of the month, but they remain special. Eternally special. Timeless.  These cars arenÂ’t necessarily going to be worth a fortune someday. However, some may not depreciate as rapidly or as far as other models. But thatÂ’s not what weÂ’re talking about here. These are the cars that enthusiasts will always find desirable from the curbside. TheyÂ’re the cars you end up shopping on eBay late at night 10 years later because you canÂ’t get them out of your head. TheyÂ’re the cars that will forever excite you when you spot a clean one in traffic or in a parking lot.  There are plenty of recent examples over the past couple of decades that could count as instant design classics. But then we got to thinking, what 2021 models will be forever cool to stare at? Which new cars and trucks on sale today will we be shopping on eBay late at night in the 2030s? We kept supercars and other ultra-expensive cars off the list to keep things within the realm of attainability, and ended up with 12 total cars. Lexus LC WeÂ’re not applying a numerical ranking to any of the cars on this list, but if we were, the Lexus LC would be No. 1. There isnÂ’t another car design out there that can stir our emotions the way an LC can when itÂ’s just standing still. This car is a concept design come true in the most beautiful of ways, and itÂ’s a shoo-in winner for Concours events decades into the future. All of this heaping praise, and we havenÂ’t even gotten to the LC 500Â’s intoxicating 5.0-liter V8. It doesnÂ’t win drag races. It wonÂ’t be the fastest around the track against any similarly-priced competition. But none of that matters. ItÂ’s quite possibly the best car you can buy new, and that says it all when it comes to the LC. Chevrolet Corvette It might not be the stunner that the Lexus LC is, but the new C8 Corvette is and will always be a special vehicle. ItÂ’s the first mid-engine Corvette, which instantly cements it into an automotive hall of fame section of sorts. All of the performance stats and specs are there to back up its supercar-like looks, and it remains the best performance bargain on sale today.

2014 Porsche Panamera arrives with new E-Hybrid, long-wheelbase models

Porsche will officially unveil the refreshed 2014 Panamera at the Shanghai Motor Show later this month, and there's a whole lot in store for the updated model, far beyond the minimal styling tweaks you see here. Sure, there's a new fascia with more prominent LED lighting (including full LED headlamps) and the rump has been tweaked ever so slightly, but the big news for 2014 concerns what's underneath that rakish skin.
First up, Porsche will now offer a Panamera S E-Hybrid model - a plug-in hybrid that builds on the technology first introduced in the Panamera S Hybrid that we tested in 2011. For this new application, a more powerful electric motor and higher-performance battery have been fitted (official specs have not been released just yet), and Porsche says the battery can be recharged in just two and a half hours when the car is plugged in to a 240-volt outlet, and the charging (as well as other vehicle data) can be monitored via a new Porsche Car Connect app available for Android and iOS devices.
The E-Hybrid will have an all-electric driving range of "greater than 20 miles" and will be able to travel at speeds up to 84 miles per hour solely on electric power.