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 TWO former Porsche directors have been cleared of alleged market manipulation.

THE Regional Court of Stuttgart acquitted the former members of the executive board of Porsche Automobil Holding SE, Stuttgart (Porsche SE), Dr Wendelin Wiedeking and Holger Härter. 

In the opinion of the chamber of the Regional Court of Stuttgart responsible for economic offences under Presiding Judge Dr Frank Maurer, the allegations made by the Stuttgart public prosecutor had not been substantiated during the extensive taking of evidence. 

The court judged that the former members of the executive board had not committed a criminal offence. The Regional Court rejected the request to fine Porsche SE that was a secondary party of the criminal proceedings. 

Porsche SE welcomed today’s court decision. The public prosecutor is free to appeal the ruling.

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