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Levi & Korsinsky, LLP Launches an Investigation into Potential Securities Fraud Claims against American Superconductor Corp
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Levi & Korsinsky, LLP is investigating potential securities fraud claims against
American Superconductor Corporation (Nasdaq: AMSC) resulting from the revelation
that the Company may have issued materially false and misleading statements...
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Levi & Korsinsky, LLP is investigating potential securities fraud claims against
American Superconductor Corporation (Nasdaq: AMSC) resulting from the revelation
that the Company may have issued materially false and misleading statements to
shareholders.
New York, NY, April 07, 2011 -- Levi & Korsinsky, LLP is investigating potential
securities fraud claims against American Superconductor Corporation (?AMSC? or
the ?Company?) (Nasdaq: AMSC) resulting from the revelation that the Company may
have issued materially false and misleading statements to shareholders regarding
sales and accounts receivable related to its largest customer between the period of
November 2, 2010 and April 5, 2011.
On April 5, 2011, AMSC announced that customer Sinovel Wind Group Co.
, Ltd.
refused
to accept contracted shipments and also refused to pay AMSC for contract shipments
made during the 2010 fiscal year.
Sinovel accounts for approximately three quarters
of AMSC?s revenue.
The Company now expects fou
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