REUTERS

LONDON PORSCHE AG is recalling nearly 102,000 of its top-selling Cayenne SUVs worldwide to fix a potential problem that could result in a headlight coming loose or falling off.

The vehicles were built for the model years 2011 and 2012 and made sometime between March 2010 and January 2012, Porsche spokesman Steve Janisse said on Friday.

The headlights on the models are secured by a twist lock. If the lock is not secure, a headlight could fall, especially when a driver is rapidly accelerating or braking heavily when rounding a corner. About a fifth of the recalled vehicles are in the United States and Canada.

Worldwide, there have been 39 cases where a headlight has come loose and 68 cases where it detached, Janisse said.

According to a filing with U.S. safety regulators, the problem was first spotted in October 2010. There have been 20 reported cases in the United States, Porsche said in a filing with the National Highway Traffic Safety Administration.

Meanwhile, federal appeals judges on Friday honed in on whether a US Supreme Court ruling limiting securities fraud lawsuits barred a $2 billion case by hedge funds accusing German automaker Porsche SE of fraudulently cornering the market in Volkswagen AG shares in 2008.

Germany’s Porsche won dismissal of the lawsuit in December 2010, when a trial judge in New York said 32 hedge funds, including Elliott Associates and Black Diamond Offshore Ltd, could not pursue the $2 billion lawsuit.

That judge, Harold Baer, cited the high court’s June 2010 ruling in Morrison v National Bank of Australia Bank Ltd , which made it harder for investors to use US courts to pursue securities claims involving alleged wrongful conduct overseas.