Former Porsche CEO charged with market manipulation

German prosecutors have charged former Porsche SE chief executive Wendelin Wiedeking and his former finance chief with market manipulation of Volkswagen shares. The prosecutor's office in Stuttgart, where Porsche is based, said the executives made false public statements during the sportscar maker's botched 2008-09 takeover of VW. Wiedeking, hailed as "the man who outfoxed the market" by Fortune, and Haerter could face a sentence of up to five years if they were found guilty.

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