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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.

Which car should win 2015 World Green Car of the Year?

There were three finalists for the World Green Car of the Year announced about a month ago at the Geneva Motor Show: the BMW i8, the Mercedes-Benz S 500 Plug-In Hybrid and the Volkswagen Golf GTE. With the New York Auto Show upon us and the winner scheduled to be announced tomorrow, we thought it's high time to ask our readers which one should win. There were seven other vehicles named to the finalists list: the Hyundai x35/Tucson Fuel Cell, the Volvo XC90 T8 Twin Engine, the Audi A3 Sportback E-Tron, the BMW X5 xDrive40e, the Kia Soul EV, the Nissan e-NV200 and the Opel Adam 1.0 Direct Injection Turbo ecoFLEX Start. Would you have named one of these to the top three list instead? POLL 14386429 Green BMW Mercedes-Benz Volkswagen 2015 ny auto show world green car of the year vw golf gte

VW confirms Audi's emissions test transmission anomalies

Just a week after reports that the California Air Resources Board (CARB) found an emissions cheat in some Audi automatic transmission software programs, parent company Volkswagen has come clean. As reported by Reuters, VW's response to an article by Munich's Sueddeutsche Zeitung stated that the adaptive shift functionality can "lead to incorrect and non-reproducible results." Adaptive shift programs alter the characteristics of a vehicle's transmission to suit different driving styles. Gentle driving will result in earlier shifts and lower engine revs, while hard-charging on the pedals and steering will make the transmission more responsive and hold gears longer. That adaptation can change over time or even on a short-term basis. And it can save fuel. The difference in this case is that is seems that the Audi transmissions were specifically programmed to detect emissions test conditions. As we explained in a previous article, one of those test conditions is keeping the wheel straight. Turning more than 15 degrees shuts the test mode off. According to Reuters, the US government is trying to determine whether this classifies as an emissions cheat device, although VW, Audi, and the EPA have not commented on the record. This latest accusation is separate from the larger VW diesel emissions scandal. Related Video: Image Credit: Getty Editorial Government/Legal Green Audi Volkswagen Emissions vw diesel scandal