The soap opera surrounding Volkswagen AG and Porsche has just taken a turn for the legal, as Bloomberg reports that the company's German offices have been raided by prosecutors who are investigating whether the automaker has violated security laws.The German prosecutor's office seized documents amidst the allegations of stock price manipulation and insider trading, prompting Porsche to issue a statement denying the allegations while vowing complete cooperation (available after the jump). The probe stems from the sports car maker's attempt to gain control of parent Volkswagen, and the investigation is reportedly focusing on recently departed CEO Wendelin Wiedeking as well as ex-CFO Holger Haerter.
As you may recall, Porsche had tried to take over VW back in May, but that maneuver failed because of the company's swirling debt and a veto on the action by Lower Saxony. Porsche has since been swallowed up by the very company it was once seeking to take over, with an additional stake going to Qatar investors. You can read more by clicking on the link below, but be sure to hit the jump to read Porsche's official statement.
GO HERE to read more.
11 comments:
I had a friend way back when named "Chris", he owed me $10,000.00 (smoker boy) I let him pay off his debt with (car rental), Carrera style(spl). She burned oil & that one night in front of Temple Hill motel the dude on the bike was real lucky. I almost killed him, he was cool when I went back and we partied. Aint life CRAZY? Oh, Chris died & I miss him sometimes. He would be like a Justin Timberlake today. Chicks liked Chris, and his money & cocain.
The elite are in a tiff.
Ive lost to many friends too.
This drink is for Chris.
Hear here.
Im with you buddy.
You remember when Rodney died in the fire? It was Kieth, not Rodney, Im getting burnt out.
10:05 ??????????
Better get into rehab while you still have two brain cells talking to each other.
8:31, I havent done anything other than POT in 24 years. My two brain cells could out think you after I was dead.
8:31 You couldn't have explained it any better, thanks.
I stand by my statement. Get into rehab before you lose the ability to communicate completely.
How about if I were to just stump your skull into the the concrete instead.
4:46
HA HA HA HA H AHA HHA H AH HHA HHHAAA!
"Stump" my skull? Keep talking you making my case!
B.T.W. I'm a pretty big guy, be careful what you say little man!
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