Porsche Automobile Holding SE (PAH3.XE) said late Tuesday that
further 12 of 20 last plaintiffs withdrew their appeal of a
decision by the U.S. District Court in New York.
MAIN FACTS:
-The withdrawal of the appeal awaits court acceptance, and the
appeal by the remaining eight plaintiffs remains unaffected by the
withdrawal.
-Porsche SE said in March, that 12 of, at the time, 32
plaintiffs withdrew their appeal then.
-Altogether, 46 hedge funds filed action in the US against
Porsche SE and some former members of its management board related
to Porsche's acquisition of Volkswagen AG (VOW.XE) shares and
disclosure. In 2010, the US District Court for the Southern
District of New York dismissed the actions in the first instance,
resulting in an appeal by 32 plaintiffs.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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