New York Appellate Court Rejects Hedge Fund Suit Against Porsche over VW Bid

, The Litigation Daily


A New York state appellate court has clamped down on an attempt by a group of hedge funds to get around the U.S. Supreme Court's Morrison decision. Reversing a lower court ruling, the appellate panel found that the hedge funds were barred from suing Porsche AG because neither the defendant nor most of the plaintiffs are New York state residents. The litigation was sparked by Porsche's 2008 announcement that it had amassed close to a 75 percent stake in Volkswagen, which was a disaster for hedge funds that had shorted VW's stock or made swap deals based on its share price.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Continue to Lexis Advance®

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at

What's being said

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article #1202582720304

Thank you!

This article's comments will be reviewed.