The corresponding claims were rejected by the competent 5. Civil chamber off, as the presiding judge stefan puhle said. The shares of the porsche holding company PSE posted strong price gains. VW group CEO martin winterkorn did not want to comment on the decision in the near future. "But i am pleased, of course," he said.
A private investor and a swiss fund company had demanded compensation of 4.7 million euros from PSE and the frankfurt-based maple bank. In the first proceedings, the plaintiff ariel cukierman accused PSE of having misled him with press releases in march 2008 about the true intention of wanting to swallow the much coarser carmaker VW. As a result, he suffered losses because the price of VW’s common stock later rose sharply instead of falling as expected.