Shares in Porsche surged Wednesday after a
German court dismissed two lawsuits claiming market manipulation
during the luxury sports carmaker's failed bid to take over the
Volkswagen group four years ago.
Porsche's stock jumped 5.79 percent following the ruling by the court in the northern city of Braunschweig.
The Stuttgart-based carmaker welcomed the decision "as a positive signal."
Three cases involved damages of $5.22 billion (4.1 billion euros) are still pending.
The court did not provide details of its decision Wednesday, saying that the parties should first be given time to read the judgement.
Most Popular Stories
- Twitter Coming to Phones Without Internet
- NASA Fellowships, Scholarships Bring Diversity to Workforce
- Dish Network Leads 2013 Top 50 Advertisers List
- Entravision Initiates Quarterly Cash Dividend
- Networks Vie for U.S. Hispanic TV Viewers
- Ad Counts Rise in 2013 for Hispanic Magazines
- Warner Bros. Unleashes 'Hobbit: Desolation of Smaug' Merchandise
- Shanghai Smog Forces Factory Shutdowns
- How to Arm Yourself Against CryptoLocker Virus
- Amanda Bynes Enrolls in California's FIDM