Wednesday, October 24, 2018

German court orders top VW investor to pay damages for disclosure violations

FRANKFURT (Reuters) - A German court on Wednesday ordered Porsche Automobil Holding SE (PSHG_p.DE) to pay shareholders 47.2 million euros ($53.8 million) in compensation for violating disclosure rules over an emissions scandal at its main investment Volkswagen (VOWG_p.DE).

Shareholders who held Porsche SE stock between May 23, 2014, and Sept. 22, 2015, were entitled to be compensated for the share price declines caused by Volkswagen’s (VW) cheating of U.S. diesel emissions tests, the Stuttgart court said.

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