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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.

Get lost in Evo's sublime 2013 Car of the Year testing

Every year Evo stages its Car of the Year test, bringing the best performance cars in the world to one location for an epic shootout. This year the magazine pitted eight CotY finalists against each other on Route Napoleon in Southern France - Evo claims it's the "best road in the world" - and then proceeded to nitpick the smallest of faults on each car until the winner could be named. You see, this year's lineup of machines was just so good that only one car obviously wasn't CotY material from the get-go. Can you guess which one judging from the list below?
- Aston Martin V12 Vantage S
- Audi R8 V10 Plus

Porsche updates 919 Hybrid LMP1 for 2015 assault [w/video]

Last season, Porsche returned to the top level of endurance racing with the 919 Hybrid, picking up a mantle that has seen the German marque win the 24 Hours of Le Mans a record sixteen times – more than any other manufacturer ever to compete at the legendary French race. Of course, Porsche didn't beat its sister company Audi right out of the box, but managed to win the last race in the FIA World Endurance Championship in Brazil before the season was done. This year it undoubtedly hopes to do even better, and this is the machine with which it will endeavor to take the top honors. Newly revised and optimized for the 2015 season, the new 919 Hybrid was just revealed on the eve of the first test session of the season at the Paul Ricard test track in the South of France. It may look largely the same as the model it succeeds, but benefits from numerous advancements made to help Porsche catch up with Audi and Toyota. For starters, Zuffenhausen has opted to step up to the eight-megajoule category, favoring the electric side of its hybrid powertrain over the internal combustion engine. So the compact 2.0-liter turbocharged V4 now drives in excess of 500 horsepower to the rear wheels, and the electric motor – powered by two energy recovery systems and a liquid-cooled lithium-ion battery – kicks in upwards of 400 hp to the front wheels. The rest of the package has been comprehensively updated as well, giving it a lower weight, improved rigidity, revised suspension and reshaped aerodynamic elements. Porsche will field two cars at most of the races this season, but will increase its team to three cars for certain races – one in black, one in white and one in red. Following the "prologue" test session at Paul Ricard this weekend, the season kicks off with the 6 Hours of Silverstone on April 12, when the new Porsche 919 Hybrid will take on the similarly revised Audi R18 E-Tron Quattro and Toyota TS040 Hybrid for the first time in earnest. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. FIA World Endurance Championship (WEC) LMP1 presentation 2015 Porsche 919 Hybrid – proven base was extensively optimised Suttgart. At the Paul Ricard Circuit in France today, Porsche presented the second generation of its Le Mans Prototype 919 Hybrid race car as a technical evolution in a three-colour concept. Porsche also confirmed it will switch to the highest of the four energy categories in the LMP1 class.