According to a source who told Reuters, a German court has assigned an investor lawsuit seeking damages from Porsche SE. The lawsuit was filed with a Eur2 billion damages in a court specializing on cartel matters.
The same source said on Wednesday that a regional court in Braunschweig, Germany will delegate the case filed by US investment funds. The said court specializing in cartel matters is based in Hanover.
The court did not give any comments regarding the report.
The decision to assign the case to a specialist court may increase Porsche SE's hopes of getting a hearing from judges who are more familiar with financial markets and technicalities. The decision was arrived after the dismissal of two investor lawsuits in the Braunschweig based court last September.
Throughout 2008, some US and German investors stated that Porsche was actually holding company camouflaged for its plans to purchase bigger Volkswagen. Instead, it secretly piled its holdings in Europe's biggest automaker.
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