4hw.com.cn: Porsche is a very familiar brand, which is favored by many car lovers. However, recently, Porsche holding company has come down from the sky. Under the influence of Volkswagen diesel cheating scandal, the company has been sued by relevant investors.
Then, in a decision of the District Court of Stuttgart, Porsche holding Bosch group was asked to enforce the court's decision to submit information such as scandal related emails.
It is reported that the two lawsuits are independent of each other. According to the investors who filed the lawsuit, Porsche holding company has 52.2% of the voting rights of Volkswagen Group. However, after the disclosure of the Volkswagen emission cheating scandal in 2015, the company did not timely disclose the relevant financial risks to the public. Accordingly, the investor's attorney said that Bosch group should submit all e-mail information related to mass business transactions.
It is understood that for a long time, Bosch Group has been providing engine control components for top automobile manufacturers, including Volkswagen. In response to the court's final decision, Bosch group expressed strong protest and pointed out that the company has the right to refuse to provide evidence.
On July 13 local time, the Stuttgart court officially ruled that Bosch group had no right to refuse to provide evidence. The court stressed that once the e-mail shows that Bosch's actions are in line with the law, it means that even if Bosch submits relevant information, it will not cause damage to its own image, and will not cause direct economic losses to the involved personnel or the company as a whole.
It is worth mentioning that the Stuttgart court also pointed out that Bosch group could not refuse to submit relevant evidence to the court on the basis of trade secrets. After all, it is suspected that it is illegal to manipulate engine control software, which will not be protected by law.
For the court's decision, a spokesman for Bosch group said it would wait for the court's final written opinion before discussing how to respond. It is worth noting that Bosch also issued a statement saying: 'in order to protect Bosch's interests, the company will reserve the right to file legal proceedings. '
According to the analysis of professionals, after the exposure of VW emission cheating scandal, however, in just two weeks, the share price of preferred stock of Porsche holding company fell by more than 40%. Until now, its share price is still nearly 10% lower than before the exposure of the scandal. Porsche holding company has been deeply impacted by VW scandal.