German court dismisses 1.13 billion pounds Porsche investor lawsuit
STUTTGART, Germany (Reuters) - A German court on Monday dismissed a lawsuit by hedge funds seeking 1.36 billion euros (£1.13 billion) in damages from investment company Porsche SE .
Two dozen hedge funds including Viking Global Investors and Glenhill Capital had accused Porsche SE of cornering the market in 2008 in shares of Volkswagen .
Plaintiffs had argued that throughout 2008 Porsche SE camouflaged its plans to acquire much-bigger VW and secretly piled up its holding in Europe's largest automaker.
Porsche SE, the family-controlled holding company that owns a majority stake in carmaker Volkswagen , has repeatedly rejected the charges as unfounded. Other German court cases are pending with billions more in claims against Porsche.
(Reporting by Ilona Wissenbach; Writing by Andreas Cremer; Editing by Ludwig Burger)
