February 11, 2013 / 4:50 PM / 5 years ago

Porsche SE trading probe extended to board members

STUTTGART, Germany, Feb 11 (Reuters) - Porsche SE said on Monday that German prosecutors have extended an ongoing probe into market manipulation to include several members of the holding’s supervisory board.

The investigation relates to a massive short squeeze late in 2008 after Porsche SE effectively cornered the market in Volkswagen voting shares.

The holding nearly collapsed a year later following its failed attempt to acquire full strategic and financial control over Volkswagen, ultimately selling its sports-car business to pay off billions in accumulated debt.

Stuttgart prosecutors couldn’t immediately be reached for comment.

Reporting by Hendrick Sackmann, writing by Andreas Cremer and editing by Christiaan Hetzner

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