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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Nick Murray's problematic Porsche 911 shows the power of a viral video

When Nick Murray took delivery of his 2013 Porsche 911 Carrera S in June 2013, he had saved for it for the past five years. He didn't just pluck a random 911 off a dealer lot. He specially ordered his car with thousands of dollars in extras tailored just to him, and he captured all of the options on his YouTube channel. The love affair didn't last long. Eventually the channel became a place for Nick to air his growing list of grievances about his deteriorating 911. Eventually, his mix of righteous indignation and sarcasm went viral.
By late December, he had already had four warranty repairs done on the car. Things got much worse in March. The computers began resetting whenever Nick drove over large bumps. There was also an acrid, electrical smell that occasionally permeated the cabin. Murray filed for Lemon Law protection. Porsche Cars North America contacted him for the first time to fix the problem, but it didn't help.
Things culminated in April when Murray put up a new video that showed more troubles. He began arbitration with Porsche and asked for either his full purchase price back or an exact replacement. The company countered with a portion of what the car was worth, based on its mileage. Murray refused and turned to his YouTube watchers for help. He asked them to spread the word, and the video went viral with over 800,000 views as of this writing. Supporters posted it multiple times on Porsche's Facebook and Twitter sites.

The exotic '80s: Ferrari, Lamborghini, Lotus and the Porsche 959

There's no secret that we are big fans of the MotorWeek Retro Review series around here. In an automotive world that often focuses on the latest tech and what's coming in the future, it's refreshing to take a look into the past to get a new perspective. That said, the show is really outdoing itself this time by posting a full episode from the '80s to YouTube, complete with the original, jazzy opening. The video is an absolute standout, too, with drives of some of the best supercars that Europe could offer at the time. Among the now classic sportscars that MotorWeek got to drive are the Ferrari 328, Lotus Esprit Turbo, Lamborghini Jalpa and Autokraft AC Mark IV. There's even a preview that sings the praises of the tech in the Porsche 959. The episode is basically a showcase of most of the exotics from young enthusiasts' walls and school folders during the '80s and is not to be missed. News Source: MotorWeek via YouTube Ferrari Lamborghini Lotus Porsche Performance Classics Videos lotus esprit ac