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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.

Porsche 918 Spyder officially priced from $845K, Weissach package $84K more

Porsche has released official pricing for its entire lineup of 2013 models, which just happens to include the upcoming 918 Spyder hybrid supercar. The 795-horsepower advanced-technology-lab-on-wheels is now officially confirmed to have a starting price of $845,000 in the US, which is the exact amount we were told earlier when we had the opportunity to ride shotgun in some 918 Spyder pre-production test vehicles.
What we didn't know at the time was the cost of the Weissach trim package, which is a high-performance upgrade to the standard vehicle that includes the deletion of some interior amenities and addition of lighter-weight carbon fiber appointments, magnesium wheels, flame-resistant upholstery, racing belts and aerodynamic aids - it's meant for track-going folk who intend to use their 918 Spyders as God, country and manufacturer intended.
All told, the Weissach package should drop the 918 Spyder's curb weight by some 80 pounds, while also lightening your wallet of an additional $84,000 - the car's MSRP with the Weissach package is $929,000. These prices don't, however, include destination charges, which, for something like the very limited edition 918 Spyder (only 918 will be made), could very well cost considerably more than your average Porsche.

Porsche recalling 4,400 911, Boxster and Cayman models over hood latches

Porsche has issued a "precautionary" and voluntary safety recall affecting some 4,400 sports cars across the globe. Here in the United States, the recall includes 1,382 911, Boxster convertibles and Cayman coupes, all of which are from model years 2014 and 2015.
Porsche will be replacing the lock bracket for the front cargo area (the frunk) after internal testing revealed that, while the vehicles meet "strength requirements," specific parts might not meet the company's quality standards throughout the vehicle's life. There have been no reports of accidents or injuries.
Owners of the affected cars will be notified within 60 days and will need to report to a nearby dealer for a free repair, which should take about 30 minutes.