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Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Recharge Wrap-up: Lucky fan to drive Porsche 918 Spyder, Avis Denmark has 861 Nissan EVs

A Tesla Model S customer shares his story of ownership over the course of 120,000 miles. Dante Richardson describes new software updates as being akin to anticipating the prize in a box of Cracker Jacks. Over the many miles he's driven the car, he has only learned to enjoy it more. "I don't know if it's the software updates or some of the other changes that have occurred with the car, but I find myself increasingly enamored and happy with the car as time has passed," Richardson says. His Volvo C70, in the meantime, usually sits idle as he opts to drive the Tesla. Read more at Tesla's website. A Facebook fan from Austria has won the opportunity to drive the Porsche 918 Spyder more than 622 miles. As part of a celebration for Porsche accumulating 10 million likes on the social media platform, Ingo Georges Vandenberghe will drive from London to the Porsche Experience Centre at Silverstone, via Wales and the Cotswolds, stopping occasionally to have other fans meet up to see and sign the car. It's a rare opportunity for the lucky driver, as every example of the high-performance Porsche hybrid has been sold. Read more at Hybrid Cars, and learn more about the celebration at Porsche's microsite. Avis Denmark now has the largest fleet of Nissan electric vehicles in Europe. The company has ordered 401 new Nissan e-NV200 vans and 60 Nissan Leafs for its leasing scheme. This is in addition to the 400 Leafs the Avis added to its fleet last year. "We had great success already with the Nissan Leaf in Denmark and we leased all of the units we purchased from Nissan very quickly, which has led to us ordering more," says Kasper Gjedsted, managing director of Avis Denmark. "To follow up that success we have decided to add the e-NV200 vehicle to broaden our offering and appeal to new types of customers." Read more in the press release below. AVIS ORDER CREATES EUROPE'S LARGEST FLEET OF NISSAN ELECTRIC VEHICLES - AVIS Denmark orders 401 Nissan e-NV200 vans and 60 Nissan LEAF electric cars - Combined with last year's order of 400 LEAFs, Avis now has largest EV fleet in Europe Copenhagen, 29th April 2015 - Nissan and AVIS Denmark have signed a deal to create the largest fleet of Nissan electric vehicles anywhere in Europe, with a new order of 401 Nissan e-NV200 vans and a further 60 units of the 100 percent electric Nissan LEAF.

Porsche celebrates 5M Facebook fans with crowdsourced one-off 911

Porsche's Facebook fan base appears to be accelerating as quickly as the cars it builds. The German automaker has just unveiled a special 911 Carrera 4S designed with crowdsourced input as a way to thank its five million Facebook fans.
The 911 features special Aquablaumetallic paint from Porsche Exclusive, contrasting 20-inch white Carrera S wheels and pinstriping, along with an aero package including a fixed rear wing. Inside, there are unique backlit sill plates and the obligatory dashboard engraving that says "Personally Built by 5 Million Porsche Fans."
As a way to turn at least one virtual thumbs up into its more meaningful physical-world equivalent, Porsche is holding a contest to win the chance to drive the car at Britain's Silverstone racetrack - and bring a friend - and nine lucky runners-up will win 1:43-scale models of the 911. If you want to enter the contest, click here.