S&C Wins Victory For Porsche in Dismissal of Hedge Fund Suit Valued at More Than $2.5 Billion

December 30, 2010

S&C won a victory for client Porsche SE in a decision on December 30, 2010 by Judge Harold Baer dismissing a suit valued at more than $2.5 billion brought by a group of hedge funds in the Southern District of New York. Robert Giuffra successfully argued the motion for Porsche SE, drawing on recent Supreme Court case law to show that the Securities Exchange Act does not apply to securities-based swap agreements referencing foreign-traded securities. On December 30, Bob was quoted on the legal ramifications of this case in The New York Times DealBook.