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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

2015 Porsche 911 Carrera GTS [UPDATE]

UPDATE: An earlier version of this story referenced the 911's six-speed manual transmission, but of course, Porsche uses a seven-speed manual in this car. The text has been changed to reflect this. There are no fewer than 19 different models in today's Porsche 911 series. While each appeals to the enthusiast, the race-bred GT3 is the pinnacle of the automaker's rear-engined lineup. Unfortunately, and despite the GT3's racing circuit prowess, its rigid track-tuned persona is too grating for many as a daily driver. To satisfy those who put sporty driving dynamics at the top of their list, but don't want to compromise comfort, Porsche has introduced the 2015 911 Carrera GTS. Raising its performance quotient, the GTS model boasts a handful of standard features that elevate it above its Carrera S siblings. Mechanically, it features an enhanced 3.8-liter flat-six bolted into the tail of the widebody platform (shared with the Carrera 4 and GT3). Other goodies include Porsche Torque Vectoring (PTV), Porsche Active Suspension Management (PASM), a black-tipped Sport exhaust system and centerlock 20-inch 911 Turbo S wheels (five-lug wheels are a no-cost option). Cosmetically, the GTS is differentiated by its darkened lights, painted black wheels, Sport Design front spoiler, Sport Design exterior mirrors, black engine grille, rear black louvers (or lights on all-wheel drive models) and a 'GTS' logo on the lower doors. Inside the cabin are standard Sport Plus seats, Alcantera upholstery throughout with contrasting stitching, black gauges and anodized black aluminum trim. Offering us an excellent opportunity to put the second-generation GTS through its paces on a variety of roads, Porsche tossed us the keys in the LA Basin and pointed us towards Willow Springs Raceway, in the Mojave Desert. Driving Notes The GTS is offered in coupe or Cabriolet body styles, each with a choice between rear- and all-wheel drive. Buyers are also offered a choice between a traditional seven-speed manual gearbox or Porsche's seven-speed dual clutch transmission (PDK). The GT3, meanwhile, is only offered as a coupe with PDK. We grabbed the keys to a Guards Red rear-wheel drive coupe with PDK for our outbound drive, and a GT Silver Metallic all-wheel drive Cabriolet with a seven-speed manual for our return trip. Finding another 30 horsepower from the naturally aspirated 3.8-liter flat-six required some old-fashioned tricks.

Porsche Panamera Turbo S vs Ariel Atom Supercharged in unlikely drag battle

David versus Goliath battles are always an enticing proposition, because they offer the chance to watch scrappy underdogs take on their bigger rivals. Evo has set up just such a battle with its latest drag race between the minimalist Ariel Atom 3.5 Supercharged (Ariel Atom 3 pictured below) and the plush Porsche Panamera Turbo S.
The two cars couldn't be more different. The Atom personifies Lotus founder Colin Chapman's well-known axiom: "Simplify, then add lightness." Most of the car doesn't even have a body; it's just an exposed frame with a 310 horsepower supercharged Honda four-cylinder mounted behind the driver. On the other side, there's the Panamera Turbo S. In the latest version, it packs 570 hp and 553 pound-feet from its 4.8-liter twin-turbo V8 and it features all-wheel drive. Of course, all of that comes with a significant weight penalty.
Off the line, the differences are even more apparent. The Atom doesn't have any of the Porsche's technological wizardry, so launching it challenges the driver to build the revs and let out the clutch just right. The car screams like a banshee as it goes, though. The Porsche is the exact opposite. Its launch control system lets the driver hold down the brake, get on the throttle and accelerate away in just the right way.