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Follow on Google News | Levi & Korsinsky, LLP Launches an Investigation into Potential Securities Fraud Claims againstLevi & Korsinsky, LLP is investigating potential securities fraud claims against American Superconductor Corporation resulting from the revelation that the Company may have issued materially false and misleading statements
By: Joanna Chlebus 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 fourth-quarter 2010 revenue to be just $42 million, and the Company will report a loss for that quarter. As a result of this disclosure, shares of AMSC dropped more than 44 percent on April 5, 2011. Levi & Korsinsky, LLP is investigating what AMSC knew and when, and whether a basis exists to initiate a securities class action lawsuit on behalf of shareholders. If you purchased AMSC securities between November 2, 2010 and April 5, 2011, and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/ Levi & Korsinsky, LLP represents investors in shareholder’ Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com Contact: Joanna Chlebus Levi & Korsinsky, LLP 30 Broad St 15th Floor New York, NY 10004 212-363-7500 jchlebus@zlk.com http://www.zlk.com # # # Business Services, news received and mail to some website. my main Business this job. site Business system services. End
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