Any number of interests have been screaming bloody murder over Porsche's little Volkswagen adventure, many with the idea that Porsche should be investigated for market manipulation. An early inquiry was generally felt lacking (by smarting hedge funds for instance). Well, took a while, but the second investigation is here:
Porsche shares fell sharply on Tuesday after the German financial watchdog launched a new market manipulation probe into its attempted takeover of Volkswagen and VW's chairman publicly attacked the sports carmaker's management.
Bafin, the regulator, launched the second such investigation in seven months after a German magazine report alleged that Porsche had informed the state of Lower Saxony, VW's second largest shareholder, in February 2008 about its intention to lift its stake in Europe's largest carmaker to 75 per cent. The report said this occurred long before Porsche made these plans public.
Porsche faces fresh probe over VW deal [The Financial Times]