The test case against the VW parent company Porsche SE (PSE) will go into the next round on Tuesday (10 a.m.) before the Stuttgart Higher Regional Court. The key question at the negotiations in Leinfelden-Echterdingen is whether the holding company should have informed its shareholders about the extent of the diesel emissions affair at VW at an earlier point in time.
Above all, it will have to be clarified whether and under what circumstances PSE, as the VW umbrella company, was obliged to publish mandatory stock market notifications on price-relevant events at VW. Although the PSE is the main shareholder of VW, it does not have any operational business itself.
Porsche SE considers lawsuits to be unfounded
The plaintiffs argue that – in ignorance of the diesel fraud – they paid too much money for their PSE shares years ago. Their argumentation: If VW and then the holding company had informed the markets about the scandal earlier, that would have depressed the share price earlier and they would have had to pay less for their shares.
The PSE considers the complaints to be “manifestly unfounded”. It is a holding company and not a car manufacturer, which is why it was not involved in the development, manufacture or sale of suspicious diesel engines.
OLG only decides on basic entitlement
The OLG had declared a British fund to be the model plaintiff, which is making a claim of 5.7 million euros. The OLG does not negotiate the amount of individual claims here – it is about the question of whether the plaintiffs are in principle entitled to compensation. (dpa / swi)
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