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Porsche Automobil Holding SE and Plaintiffs Enter Agreement


Thursday, 31 Jan 2013 12:15pm EST 

Porsche Automobil Holding SE announced that the Plaintiffs' litigation against Porsche SE in the New York State Supreme Court ('Plaintiffs') have entered into an agreement terminating all proceedings before that court. Plaintiffs have agreed to waive any appeal of the decision of the Appellate Division of the New York State Supreme Court dismissing their complaints, and Porsche SE has agreed not to raise any statute of limitations defense with respect to claims filed by Plaintiffs before a court in Germany within 90 days. Notwithstanding the above, Porsche SE believes that the asserted claims would be without merit. 

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