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BAnnover (dpa / lni) – The $ 1 billion procedure surrounding the consequences of VW's takeover of Porsche Holding Porsche SE, scheduled several years ago, will continue today in Hannover. The hearing had been delayed several times after the start, more than a year ago – also because of several bids by the plaintiff shareholders against the judges.
This is the battle of takeovers between Porsche SE (PSE) and Volkswagen about ten years ago. In the end, the PES held the majority of VW, but was in debt for billions. There has been price turbulence that has cost investors dearly. Finally, VW swallowed later on its side the operating activity of Porsche.
Claimant example: a company in which complaints from various investors are grouped together. These argue that they were misinformed at the time. The PES considers the action to be unfounded.
A decision is not expected Tuesday. By the end of the year, six other trial dates have been scheduled. The standard procedure of the Superior Regional Court (OLG) That takes place for reasons of space in Hanover.
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