Business

German prosecutors charge ex-Porsche chiefs

By Washington Examiner
Published December 19, 2012 1:16pm ET
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German prosecutors charge ex-Porsche chiefs
FILE - In this Jan. 30, 2009 file photo former chief executive of Porsche, Wendelin Wiedeking attends a general meeting at the Porsche-Arena in Stuttgart, Germany. German prosecutors have charged two former Porsche executives with market manipulation in connection with the sports car company's failed takeover of Volkwagen AG. Prosecutors in Porsche's home city of Stuttgart say former chief executive Wiedeking and ex-chief financial officer Holger Haerter made misleading statements about the company's intentions in 2008. A statement issued by prosecutors Wednesday, Dec. 19, 2012, accuses the pair of denying up until Oct. 2008 their intention to increase Porsche's stake in VW despite having decided to do so six months earlier. (AP Photo/dapd, Sascha Schuermann, File) | Sascha Schuermann

BERLIN (AP) — German prosecutors have charged two former Porsche executives with market manipulation in connection with the sports car company’s failed takeover of Volkswagen AG, officials said Wednesday.

Prosecutors in Porsche’s home city of Stuttgart accuse former chief executive Wendelin Wiedeking and ex-chief financial officer Holger Haerter of making misleading statements about the company’s intentions in 2008.

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