Porsche Automobil Holding SE (PAH3.XE) has offered a group of investment funds a low three-digit million euro sum to settle ongoing lawsuits over alleged market manipulation, but the funds rejected the offer as too low, monthly Manager Magazin reports Thursday, citing company sources.

Several international investment funds have sued Porsche first in the U.S. in 2010 and then in Germany on Dec. 31, 2011, for allegedly cornering the market in 2008 during the German automaker's ill-fated attempt to take over much-larger peer Volkswagen AG (VOW.XE).

According to the report, the lawsuit in Germany was filed after the funds rejected Porsche's settlement offer.

A spokesman for Porsche Thursday said the company generally doesn't comment on ongoing lawsuits.

Magazine website: http://manager-magazin.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

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