Plaintiffs are seeking compensation from Porsche Automobil
Holding SE (PAH3.XE) in a new law suit filed at a German court, a
spokesman from Stuttgart's regional court said Monday.
Altogether, 25 plaintiffs are seeking 1.36 billion euros ($1.77
billion) in a law suit filed in the middle of last week, the
spokesman said, without specifying further details of the legal
action.
"We haven't received the complaint yet, so we can't comment on
its content at this point," a Porsche Holding spokesman said.
Porsche's failed bid to take over Volkswagen AG (VW) prompted a
group of U.S. hedge funds to file for $1.4 billion in damages from
Porsche in the U.S. in 2011. After that legal action failed, the
hedge funds were given until the beginning of May this year to file
their case in Germany.
VW succeeded in buying out Porsche last July, after a four-year
takeover battle between the two German car makers.
Write to Ilka Kopplin at ilka.kopplin@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires