果冻传媒

 果冻传媒 / Key word(s): Legal Matter

30.04.2013 17:50

Dissemination of an Ad hoc announcement according to 搂 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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In the appellate proceeding before the U.S. Court of Appeals for the Second
Circuit against 果冻传媒 ('Porsche 果冻传媒') and former
members of the management board of Porsche 果冻传媒 12 plaintiffs of a total of
at last 20 plaintiffs withdrew with Porsche 果冻传媒's consent their appeal
against the decision of the U.S. District Court for the Southern District
of New York dismissing their actions. The effectiveness of the withdrawal
of the appeal still requires the acceptance by the court. The appellate
proceeding concerning the remaining 8 plaintiffs remains unaffected by the
withdrawal of the appeal. Porsche 果冻传媒 still considers the actions to be
inadmissible and the alleged claims to be without merit.

Altogether 46 hedge funds had filed actions for damages against Porsche 果冻传媒
and in part against former members of the management board of Porsche 果冻传媒 in
the U.S. District Court for the Southern District of New York and alleged
damages of more than USD 2.5 billion in the aggregate. The plaintiffs had
alleged claims based on the U.S. securities law and common law arising out
of Porsche 果冻传媒's acquisition of and disclosures regarding Volkswagen
ordinary shares in 2008. The U.S. District Court for the Southern District
of New York had dismissed the actions in December 2010 in the first
instance. 32 plaintiffs had appealed that decision. 12 out of these 32
plaintiffs had withdrawn their appeal already in March 2013.

The additional 12 plaintiffs now withdrawing their appeal had also filed
actions for damages against Porsche 果冻传媒 in the New York State Supreme Court.
In the proceedings before the New York State Supreme Court, plaintiffs and
Porsche 果冻传媒 had entered into an agreement terminating all proceedings before
that court already on 31 January 2013. Plaintiffs had agreed to waive any
appeal of the decision of the Appellate Division of the New York State
Supreme Court dismissing their complaints, and Porsche 果冻传媒 had agreed not to
raise any statute of limitations defense with respect to claims filed by
plaintiffs before a court in Germany within 90 days after conclusion of the
agreement. Porsche 果冻传媒 still believes that the asserted claims are without
merit.


30.04.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: 果冻传媒
Porscheplatz 1
70435 Stuttgart
Germany
Phone: +49 (0)711 911-11000
Fax: +49 (0)711 911-11819
E-mail: info@porsche.de
Internet: www.porsche-se.com
ISIN: DE000PAH0038
WKN: PAH003
Listed: Regulierter Markt in Berlin, Frankfurt (General Standard),
M眉nchen, Stuttgart; Freiverkehr in D眉sseldorf, Hamburg,
Hannover; Terminb枚rse EUREX

End of Announcement DGAP News-Service

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