Courthouse News Services – Porsche “corner(ed) the market in VW stock” in a “massive short squeeze,” driving up the share price after inducing investors to sell short, costing other investors more than $1 billion, a group of hedge-fund traders claims in New York Supreme Court.
Led by Glenhill Capital, the New York-based investors say Porsche was “unapologetic and astonishingly frank about how it intentionally misled investors,” and that they “lost more than $1 billion as a direct result of the fraud.”
