Porsche's former CEO, Wiedeking, is being prosecuted by district attorney for Stuttgart. Wiedeking has to answer charges of market manipulation related to the failed attempt to buy out Volkswagen. It will be interesting to see how this plays out.

If you can read German : http://www.tagesschau.de/wirtschaft/wiedeking128.html

Easiest english hit I could fine: http://www.autoblog.com/2009/08/20/b...icion-of-stoc/

The press release from Porsche:
PRESS RELEASE:

Press-Information No. 27/09
20/08/2009

Suspected Breach of Publicity Duties

The public prosecutor's office investigates at Porsche

Stuttgart. Stuttgart. Investigative proceedings led by the public prosecutor's office have been carried out at Porsche Automobil Holding SE and Dr. Ing. h.c. F. Porsche AG, both in Stuttgart. This Thursday morning, officials from the public prosecutor's office in Stuttgart with judicial search warrants arrived at the administrative headquarters of the companies in Stuttgart-Zuffenhausen. The officials then searched the business premises of the companies, seizing numerous business documents in the process.

According to information provided by the public prosecutor's office in charge of investigations, there is a suspicion of breaching the publication duty as prescribed by the German Stock Corporation Act and furthermore of market manipulation.

Porsche is rejecting these allegations. The company is cooperating in the efforts of the public prosecutor's office and is offering investigating officials its full support in order to clarify the issue as quickly as possible.

# # #