BRIEF-Porsche wins dismissal of hedge funds' lawsuit in New York over alleged Volkswagen short squeeze

Thu Dec 27, 2012 12:27pm EST

Dec 27 (Reuters) - Porsche Automobil Holding SE : * Wins dismissal of U.S lawsuit brought by hedge funds over Volkswagen AG

trades -- New York court ruling * New York state appeals court in Manhattan says Porsche met its "heavy burden"

of showing that the lawsuit did not belong in New York * Appeals court reverses lower court ruling that had allowed the hedge funds'

lawsuit to proceed