Porsche Automobil Holding SE (ETR:PAH3) (FRA:PAH3) is being sued by a number of hedge funds—again. It was announced in December that a state appeals court dismissed a suit filed by a group of hedge funds over what they say was a short squeeze that occurred when Volkswagen AG (ETR:VOW) (FRA:VOW) merged with Porsche.

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The judge decided that the funds did not have the jurisdiction needed to sue Porsche in a New York State Court. As a result, you guessed it: they just filed their suit somewhere else. The funds decided early this year to end their pursuit of all cases in the U.S. and Porsche had given the funds 90 days to take their suit to Germany. They apparently took the automaker up on its offer.

Taking The Suit Against Porsche To Europe

The 25  funds decided early this year to end their pursuit of all cases in the U.S., and Porsche had given the funds 90 days to take their suit to Germany. They apparently took the automaker up on its offer.

The funds allege that Porsche Automobil Holding SE (ETR:PAH3) (FRA:PAH3) acquired a majority stake in Volkswagen AG (ETR:VOW) (FRA:VOW) secretly before it announced that it would acquire the company. Two former executives with Porsche also face criminal charges in connection with the allegations.

Among the hedge funds involved are Glenhill Capital, Viking Global and David Einhorn’s fund Greenlight Capital. They’re seeking $1.8 billion in damages in the case, according to Bloomberg.

The Suit’s Impact On Porsche’s Financials

A spokesperson for Porsche Automobil Holding SE (ETR:PAH3) (FRA:PAH3) told Bloomberg that they hadn’t received the suit yet and couldn’t comment on it. Albrecht Bamler also said it doesn’t increase the risk the company faces because it’s just taking a case the automaker was already facing and moving it to Germany from the U.S.

Bamler also said they were anticipating a €5 billion discount on the company’s stock price and are not intending to change that amount because of the re-filing of the suit.