Securities Litigation in Germany: Volkswagen and The Fall-out of Dieselgate

Landgericht BraunschweigOn the blog, we have tracked the jurisdictional journey of securities litigation brought against Porsche in relation to its failed attempt to take over Volkswagen (see here and here, for example). Now, Volkswagen itself is at the centre of the most recent wave of big-time securities litigation. Investors are suing VW for failure to inform markets on time about the diesel emissions scandal, also known as Dieselgate. Jurisdictionally, things are pretty straightforward this time. The competent court, the Braunschweig District Court (Landgericht) issued a press release earlier this week on the current scope of the litigation. Continue reading

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Hedge Funds vs. Porsche: Litigation Gravitates to Hannover

In a decision today, the Braunschweig district court (Landgericht) has transferred two cases* brought by hedge funds investors against Porsche to the Hannover district court. The claimants are pursuing damages claims against Porsche related to Porsche’s attempt to take over Volkswagen.       Continue reading

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Hedge Fund Litigation: Porsche’s Victory in Braunschweig

Here ist an update on the epic litigation battle that follows from Porsche’s failed take over of Volkswagen. Hedge funds try to recover losses suffered at the time and sue Porsche for billions of damages. The court cases have taken them on a Tour of Germany. Today, it was the Braunschweig District Court (Landgericht) which was scheduled to hand down decisions in three of the actions pending against Porsche. Continue reading

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Porsche Litigation Update: New York, Stuttgart, Braunschweig – Next Stop Hannover?

In the Porsche securities litigation, where billions are at stake following Porsche’s failed attempt to take over Volkswagen, actions have been brought in courts in New York, London, Stuttgart and Braunschweig. Whereas in New York and Stuttgart, it was so far all about jurisdiction – or the lack of it – Braunschweig has already ruled on the merits of these claims back in September 2012, when it dismissed the first two smaller actions against Porsche. So it came as a bit of a surprise when, in a hearing on April 17, 2013 that dealt with the second wave of bigger cases, the Braunschweig court showed some sympathy for an application made by one of the claimants to move the matter to another court.

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