STUTTGART , Germany, Oct. 22 (UPI) -- Porsche's former chief executive officer testified Thursday in a Stuttgart, Germany, court, denying charges he lied to investors about the company's plan to take over Volkswagen.
Wendelin Wiedeking, former CEO and Holger Haeter, former financial chief of Porsche SE, are accused of market manipulation in connection with the 2008 attempt to acquire Volkswagen AG. Prosecutors say the two men misled investors on numerous occasions, including the withholding of information about options purchases before an acquisition could be made.