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Investment Recovery

Porsche en

Porsche’s listed preferred shares dropped by more than 30% in value when VW admitted it had installed defeat devices, which were designed to cheat emissions tests in certain car models.
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Porsche Holding SE (‘Porsche’) is a listed company with a majority stake (~52,2%) in Volkswagen AG’s (‘VW’) ordinary shares. As a consequence, Porsche’s listed preferred shares dropped by more than 30% in value when VW admitted it had installed defeat devices, which were designed to cheat emissions tests in certain car models.

At the end of December 2018, a group of investors advised and assisted by Deminor Recovery Services registered their claims against Porsche with the model case proceeding (‘KapMuG’) before the Higher Regional Court of Braunschweig in which VW and Porsche are both model defendants. Deminor advised claimants to register their claims rather than issuing proceedings given that several key procedural and substantial issues remain uncertain.

The registration of claims has had the effect of tolling the statute of limitations. Investors can issue proceedings against Porsche once the uncertainties are resolved.

Company name

Porsche Automobil Holding SE
Germany

Ticker Bloomberg

PAH3:GR

Ticker Reuters

PSHG_p.DE

ISIN

DE000PAH0038

Relevant period

01/01/2009 – 31/12/2015

Case initiated

December 2018

Contact persons

✉️ Edouard Fremault

✉️ Jasmin Hansohm

 

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