Bounced from U.S. Courts Under Morrison, Securities Plaintiffs Sue Porsche in Germany
Securities plaintiffs previously sued Porsche in the US for alleged fraud related to the merger with VW. Their claims were bounced out of the US on jurisdictional grounds under the Morrison decision. Plaintiffs have now sued Porsche in Germany - the suit is described in this press release and in an AmLaw article by Nate Raymond. Meanwhile, the merger has been delayed because of litigation risks. Plaintiffs are represented by a German law firm known as the BROICH Partnership.
One wonders if it will even take a decade to see the creation of a global plaintiff's bar in securities claims, and then a listing of "international judicial hellholes."
