John Brown
John Brown GRM+ Memberand SuperDork
8/20/09 1:43 p.m.
http://www.autoblog.com/2009/08/20/breaking-porsche-offices-reportedly-raided-on-suspicion-of-stoc/ said: The soap opera surrounding Volkswagen AG and Porsche has just taken a turn for the legal, as Bloomberg reports that the company's German offices have been raided by prosecutors who are investigating whether the automaker has violated security laws. The German prosecutor's office seized documents amidst the allegations of stock price manipulation and insider trading, prompting Porsche to issue a statement denying the allegations while vowing complete cooperation (available after the jump). The probe stems from the sports car maker's attempt to gain control of parent Volkswagen, and the investigation is reportedly focusing on recently departed CEO Wendelin Wiedeking as well as ex-CFO Holger Haerter. As you may recall, Porsche had tried to take over VW back in May, but that maneuver failed because of the company's swirling debt and a veto on the action by Lower Saxony. Porsche has since been swallowed up by the very company it was once seeking to take over, with an additional stake going to Qatar investors. You can read more by clicking on the link below, but be sure to hit the jump to read Porsche's official statement. [Sources: Bloomberg, Porsche | Image: David Hecker/AFP/Getty]]

Bet Qatar is REALLY interested in this story...

EricM
EricM HalfDork
8/20/09 1:53 p.m.

I wonder if people are still pissed about the short squize porsche put on the VW stock a few years ago.

blaze86vic
blaze86vic Reader
8/20/09 2:33 p.m.

I think the raid answers that question pretty clearly haha.

Rusty_Rabbit84
Rusty_Rabbit84 Dork
8/20/09 2:52 p.m.

are they being investigated only in Europe?

Per Schroeder
Per Schroeder Technical Editor/Advertising Director
8/20/09 3:29 p.m.

How will this affect my check engine light?

M030
M030 Reader
8/20/09 5:11 p.m.

Per, I think it means that from now on, Porsches will come standard with a persistent Check Engine light just like modern VWs!

My wife's 02 Cabrio has had the light on so many times and for so long that I've considered taking out the panel and creating one that has the word "ON" in place of the Check Engine light, so that the familiar little yellow light just means the car is running.

Jensenman
Jensenman SuperDork
8/20/09 6:20 p.m.
Per Schroeder wrote: How will this affect my check engine light?

You can still warm your hands on it, just like before.

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