Second Circuit Affirms Dismissal of Suit Over Porsche-VW Takeover

Skadden represented the former chief executive officer of Porsche Automobil Holding SE in the dismissal of billions of dollars of claims brought against him, Porsche and other former officers and directors by several dozen hedge funds alleging misrepresentations and market manipulation in connection with Porsche's alleged attempted takeover of Volkswagen AG. The U.S. Court of Appeals for the Second Circuit affirmed the decision on August 17.