Friday, December 21, 2012

Porsche Fires “Italian Torpedo” Over Failed VW Takeover, Former Execs Charged

Don’t worry, Porsche is not attacking Ferrari or Lamborghini. An "Italian torpedo" is lawyer slang for when someone files a lawsuit in a certain court while the other party does the same in a different country. Italian courts can take years to decide on jurisdiction, so the case stalls; hence the term.
That’s exactly what Porsche has done, filing a lawsuit against the Pendragon fund in the Regional Court of Stuttgart 11 days before Pendragon filed its own lawsuit against the company in London.

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