lfm1001

Among the false statements Porsche SE made was that although Elsa Starfish would acquire a simple majority of VW shares, "going to 75% is not on the agenda." Porsche SE told another fund that it would stop acquiring shares after achieving 50-55% control. Porsche SE admitted to at least one plaintiff that it was spreading its options trades around to multiple counterparties to avoid detection. Porsche Engine-turned money clip fraudulent strategy deliberately targeted short sellers. In order to secretly obtain 75 percent ownership in VW, Porsche needed short sellers to borrow stock from owners who would not or could not sell the stock themselves and then to sell it to Porsche or Porsche's call-option counterparties. Without the additional supply created by short sellers, Eternal Link Cross pendant could never have gained control of 75 percent. Porsche SE financed its call-option strategy in part through selling put options. As the price of VW declined in the third week of October 2008, Porsche SE's liability on the puts it had sold threatened to force the company into bankruptcy. It avoided this threat by forcing the price of VW up, TIFF 1837 it accomplished by announcing its call-option position on October 26, triggering the squeeze.Six more hedge funds joined a lawsuit against Porsche SE over alleged securities fraud and manipulation on Thursday [April 29], with the plaintiffs doubling the damages they are seeking to $2 billion. A spokeswoman for the plaintiffs said the six additional fund families teamed up with the existing four to seek damages from Porsche SE, which they say had deliberately deceived the market as to its intentions to build up a 75% stake.