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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.

World Car Of The Year down to its final four

Judges for the World Car of the Year Award have narrowed down the finalists to just four vehicles. Out of a total of 42 entries, only the Mercedes-Benz A-Class, Porsche Boxster/Cayman, Scion FR-S/Subaru BRZ/Toyota GT-86 and Volkswagen Golf remain standing. For Volkswagen, this marks the second consecutive year the company has had an entry among the finalists, and the fourth time since 2009. In order to qualify, a vehicle must be on sale on two continents during the span of time between January 1, 2013 and May 30, 2013. A panel of 66 journalists from 23 countries then vote on the finalists.
Three vehicles have made the cut for the last round of voting on the 2013 World Performance Car as well, with the Cayman/Boxster and FR-S/BRZ/GT-86 running against the Ferrari F12 Berlinetta. Meanwhile, the Renault Zoe, Tesla Model S and Volvo V60 Plug-In Hybrid are duking it out for the World Green Car Award. Finally, the World Car Design of the Year Award is up for grabs between the Aston Martin Vanquish, Jaguar F-Type, and the Mazda6. Check out the full press release below. Overall winners will be presented at the 2013 New York Auto Show.

Volkswagen names new chief designer for Bentley

The Volkswagen Group has named one of its own to head up the design department at its Bentley division. The role now falls to Stefan Sielaff, who has been with the group (off and on) since 1990. Sielaff is principally an interior designer, but has been tasked with setting up numerous overall design offices for Volkswagen and Audi over the years. In his new capacity he'll be reporting to the group's chief engineer Rolf Frech (and oddly not to Bentley chief Wolfgang Durheimer), but at the same time, Sielaff will retain his role as head of interior design for the entire VW group, reporting to its chief designer Walter de Silva. Sielaff replaces Luc Donckerwolke, who has headed up Bentley design since 2012 and is leaving the company. We'll be on the lookout to see where Donckerwolke lands next. Crewe/Wolfsburg, 04 June 2015 Stefan Sielaff to head design at the Bentley brand • Sielaff also responsible for Group Interior Design Strategy Stefan Sielaff (53), currently Head of the Volkswagen Design Center in Potsdam, will assume responsibility for design at the Bentley brand effective July 1, 2015 in addition to his present post as Head of Group Interior Design Strategy. As Director of Design at Bentley, Sielaff succeeds Luc Donckerwolke (49), who held this function since 2012. Stefan Sielaff joined the Volkswagen Group in 1990, beginning his career in the interior design department at Audi. From 1995 the design graduate was entrusted with setting up the Group's Design Center Europe in Spain. In 1997 he was placed in charge of the Design Studio in Munich and was appointed Head of Audi Interior Design in the same year. In 2003 Sielaff moved to DaimlerChrysler as Design Director of the Interior Competence Center, returning to the Volkswagen Group in 2006 to become Head of Audi Design before being appointed Head of the Volkswagen Design Center in Potsdam und Head of Group Interior Design Strategy in 2012. In his new function as Director of Design at Bentley, Sielaff reports to Rolf Frech, Board Member for Engineering. In his function as Head of Group Interior Design Strategy he continues to report to Walter de Silva, Head of Group Design. Luc Donckerwolke has decided to leave the company. De Silva said: "Luc Donckerwolke has played a key role in the design of various Group brands. We would like to thank him for his work." Related Video: News Source: Volkswagen Design/Style Hirings/Firings/Layoffs Bentley Volkswagen