DealBook colleagues:
Porsche seems ready to speed more far towards the Germany.
The automaker is subject to legal action by federal district court 39 hedge funds Manhattan bound to his ill-fated attempt surreptitiously regain the Volkswagen in 2008.Porsche recently filed its motion to dismiss the case, and it seems that Porsche has good chances of réussite.La main reason: a decision by the Supreme Court in Morrison v. National Australia Bank Ltd. which severely limited the ability of security holders to pursue foreign firms in an American Court for securities purchased abroad.
The case not only has the potential to force these hedge funds go to Germany to pursue their claims, but also demonstrates the strong effect decision Morrison was already on the United States foreign securities litigation.
Read more here.
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