In the trial surrounding the ten-year-old takeover of Volkswagen by Porsche, the court rejected claims by investors for billions in damages. On Friday, the 1st Cartel Senate of the Higher Regional Court in Celle rejected the determination targets requested by the plaintiffs or declared them inadmissible. In particular, the notification from Porsche SE dated October 26, 2008, in which the holding company had declared that it had already secured almost three quarters of its shares in Volkswagen through purchases and option transactions, was not grossly misleading or wrong. Knowledgeable capital market participants could have understood the content of the notification. Porsche SE spoke of an “important stage win”.