8895. & M-5519. VIKING GLOBAL EQUITIES, LP plf-res, v. PORSCHE AUTOMOBIL HOLDING SE, FORMERLY KNOWN AS DR. ING. H.C. F. PORSCHE AG, def-ap — GLENHILL CAPITAL LP plf-res, v. PORSCHE AUTOMOBIL HOLDING SE, FORMERLY KNOWN AS DR. ING. H.C. F. PORSCHE AG, defap — THE FEDERATION OF GERMAN INDUSTRIES, GERMAN ISSUERS, THE ASSOCIATION OF GERMAN BANKS, THE SWISS BANKERS ASSOCIATION, THE EUROPEAN BANKING FEDERATION, ECONOMIESUISSE, MOUVEMENT DES ENTREPRISES DE FRANCE, AND GERMAN AND AMERICAN LAW PROFESSORS, AMICI CURIAE. Sullivan & Cromwell LLP, New York (Robert J. Giuffra, Jr. of counsel), for ap — Quinn Emanuel Urquhart & Sullivan, LLP, New York (Marc L. Greenwald of counsel), and Dowd Bennett LLP, St. Louis, MO (James F. Bennett of the bar of the State of Missouri, admitted pro hac vice, of counsel), for Viking Global Equities, LP, Viking Global Equities II LP, and VGE III Portfolio LTD., res — KLEINBERG, KAPLAN, WOLFF & COHEN, P.C., NEW YORK (DAVID PARKER OF COUNSEL), AND BARTLIT BECK HERMAN PLAENCHAR & SCOTT LLP, CHICAGO, IL (JAMES B. HEATON, III OF THE BAR OF THE STATE OF ILLINOIS, ADMITTED PRO HAC VICE, OF COUNSEL), FOR GLENHILL CAPITAL LP; GLENHILL CAPITAL OVERSEAS MASTERS FUND LP; GLENHILL CONCENTRATED FUND LP; GLENVIEW CAPITAL PARTNERS, L.P.; GLENVIEW INSTITUTIONAL PARTNERS, L.P.; GLENVIEW CAPITAL MASTER FUND, LTD.; GCM LITTLE ARBOR PARTNERS, L.P.; GCM LITTLE ARBOR INSTITUTIONAL PARTNERS, L.P.; GCM LITTLE ARBOR MASTER FUND, LTD.; GCM OPPORTUNITY FUND, L.P.; GLENVIEW CAPITAL OPPORTUNITY FUND, L.P.; GLENVIEW OFFSHORE OPPORTUNITY MASTER FUND, LTD.; GREENLIGHT CAPITAL, L.P.; GREENLIGHT CAPITAL QUALIFIED, L.P.; GREENLIGHT CAPITAL OFFSHORE PARTNERS; GREENLIGHT REINSURANCE, LTD.; ROYAL CAPITAL VALUE FUND, LP; ROYAL CAPITAL VALUE FUND (QP), LP; ROYALCAP VALUE FUND, Ltd.; Royal-Cap Value Fund II, Ltd.; Tiger Global, L.P.; Tiger Global II, L.P.; and Tiger Global, Ltd., res — MAYER BROWN LLP, NEW YORK (ANDREW J. PINCUS OF COUNSEL), THE FEDERATION OF GERMAN INDUSTRIES, GERMAN ISSUERS, THE ASSOCIATION OF GERMAN BANKS, THE SWISS BANKERS ASSOCIATION AND THE EUROPEAN BANKING FEDERATION, ECONOMIESUISSE, MOUVEMENT DES ENTREPRISES DE FRANCE, FOR AMICI CURIAE. SNELL & WILMER L.L.P., COSTA MESA, CA (MARY-CHRISTINE SUNGAILA OF THE BAR OF THE STATE OF CALIFORNIA, ADMITTED PRO HAC VICE, OF COUNSEL), FOR GERMAN AND AMERICAN LAW PROFESSORS, AMICI CURIAE.—Order, Supreme Court, New York County (Charles E. Ramos, J.), entered August 8, 2012, which to the extent appealed from as limited by the briefs, denied defendant’s motion to dismiss the complaint on the ground of forum non conveniens, and denied its motions for summary judgment and to dismiss causes of action for failure to state a claim, unanimously reversed, on the law and the facts, with costs, the motion to dismiss on the ground of forum non conveniens granted. The Clerk is directed to enter judgment dismissing the complaint.
In these consolidated actions for fraud and unjust enrichment, plaintiff hedge funds allege that they sustained losses as a result of misrepresentations made by defendant relating to its intention to acquire shares in nonparty Volkswagen AG. Plaintiffs allege that they were fraudulently induced into making short sales in VW stock in reliance on defendant’s public and private assurances that it had no present intention to acquire a 75 percent stake in VW, and that when defendant unveiled its takeover plan, it triggered a “short squeeze” that spiked prices and forced plaintiffs to cover their positions at losses of more than a billion dollars.
