Porsche SE raises voting rights share in Volkswagen

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Porsche SE, the holding company controlling Germany’s Volkswagen, on Tuesday stated it raised its voting rights share in the automaker to 53.1 percent from 52.2 percent. “We continue to believe that Volkswagen group has a significant potential to increase its value and that its current capital market valuation does not reflect this,” stated Porsche SE’s […]

German court orders a Volkswagen investor to pay damages for disclosure violations

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A German court ordered Porsche Automobil Holding SE to pay shareholders 47.2 million euros ($53.8 million) in compensation for breaching disclosure rules over an emissions scandal at its major investment Volkswagen. Shareholders who held Porsche SE stock from May 23, 2014, and September 22, 2015, were entitled to be compensated for the share costs reduces […]

Investors can seek redress from Porsche SE in Volkswagen case, says court

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A German court ruled on Friday that investors looking for damages concerning a sharp decrease in Volkswagen shares after the automaker revealed emissions cheating in 2015 can also look to redress from majority shareholder Porsche SE. Investors worldwide have submitted lawsuits at a local court in Braunschweig, asking around 9 billion euros ($10.4 billion) in […]

Porsche SE has no information about Piech’s stake sale talks

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Porsche SE, Volkswagen’s majority shareholder, stated it has no details about previous VW chairman Ferdinand Piech’s talks with the automaker’s managing families about a potential sale of his stake. “We are just notified about that talks are taking place,” chief executive Hans Dieter Poetsch stated on Tuesday at the company’s earnings press conference. “We can […]

Investors sue Porsche SE due to Volkswagen scandal

Porsche SE, the main investor of Volkswagen, is dealing with lawsuits from investors asserting the company did not divulge the financial dangers of Volkswagen’s emissions scandal discovered a year back. A representative at Porsche SE stated on Tuesday Frankfurt-based law firm Nieding + Barth had actually submitted 12 lawsuits against the company which controls 52.2 […]