German Prosecutors Appeal Wiedeking Ruling

German prosecutors in Stuttgart have appealed last month's court ruling that blocked them from proceeding with a market manipulation trial for former Porsche SE CEO Wendelin Wiedeking.

Investigators filed a criminal indictment at the end of 2012 charging Wideking and former CFO Holger Haerter with misleading investors about Porsche SE's ultimately failed attempt in 2008 to acquire Volkswagen AG.

But the April 24 court ruling said there is not enough evidence to warrant a trial. Prosecutors tell Bloomberg News they filed an appeal to meet a deadline for doing so but now will decide whether to go forward with it.

Last year the investigators expanded their probe to include Porsche SE board members Ferdinand Piech and Wolfgang Porsche. Prosecutors claim Porsche decided in early 2008 to attempt to seize 75% control of VW but repeatedly denied the plan for eight months. Porsche then announced it had acquired options for 74% of VW.