{"id":31868,"date":"2012-10-10T16:11:26","date_gmt":"2012-10-10T20:11:26","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=31868"},"modified":"2012-10-10T16:11:26","modified_gmt":"2012-10-10T20:11:26","slug":"state-appeals-court-says-not-so-fast-to-hedge-funds-suing-porsche","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2012\/state-appeals-court-says-not-so-fast-to-hedge-funds-suing-porsche.html","title":{"rendered":"State appeals court says &#8216;Not so fast&#8217; to hedge funds suing Porsche"},"content":{"rendered":"<p>Reuters &#8211; In August, when New York State Supreme Court Justice\u00a0Charles Ramos\u00a0denied Porsche&#8217;s motion to dismiss\u00a0a $1 billion fraud case brought by several hedge funds that blamed Porsche for manipulating the market for Volkswagen shares, it was a momentous ruling for investors with securities claims against foreign defendants.<\/p>\n<p>The hedge funds suing Porsche had been bounced out of federal court under\u00a0Morrison v. National Australia Bank, and though Porsche argued that New York state court wasn&#8217;t the appropriate forum for the funds&#8217; suit, Ramos said New York-based investors who engaged in due diligence at their New York offices have the right to sue in state court. His\u00a0decision\u00a0was regarded as a sign that for some investors, state court is a viable alternative for cases Morrison bars from federal court.<\/p>\n<p><a href=\"http:\/\/newsandinsight.thomsonreuters.com\/New_York\/News\/2012\/10_-_October\/State_appeals_court_says__Not_so_fast__to_hedge_funds_suing_Porsche\/\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; In August, when New York State Supreme Court Justice\u00a0Charles Ramos\u00a0denied Porsche&#8217;s motion to dismiss\u00a0a $1 billion fraud case brought by several hedge funds that blamed Porsche for manipulating the market for Volkswagen shares, it was a momentous ruling [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31868","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=31868"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31868\/revisions"}],"predecessor-version":[{"id":31869,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31868\/revisions\/31869"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=31868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=31868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=31868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}