Porsche Executive Defeats Lawsuit by Failed Auto Tech Startup

A Porsche AG venture capital executive won a novel ruling Tuesday letting him out of litigation brought in the US by an auto tech startup that shut down after he blocked two outside financing rounds.

A Delaware Chancery Court judge dismissed Ulrich Thiem from the case, which concerns the failure of Zync Inc., a business backed by a Porsche subsidiary that focused on in-vehicle entertainment, including streaming video. Thiem’s inaction—declining to let a Porsche-affiliated board member sign off on funding that could allegedly have kept Zync afloat—is a “loosely associated omission” that can’t subject him to personal jurisdiction, the judge ...