| Company: | American Superconductor Corporation |
| Ticker Symbol: | AMSC |
| Class Period: | Nov-2-10 to Apr-5-11 |
| Date Filed: | Apr-7-11 |
| Lead Plaintiff Deadline: | Jun-6-11 |
| Court: | District of Massachusetts |
| Allegations: | |
AMSC provides wind turbine designs and electrical control systems. The company' quarterly revenues during the Class Period were largely derived from customer Sinovel Wind Group Co. Ltd. ("inovel"). The complaint alleges that during the Class Period, defendants violated federal securities laws by misrepresenting and/or failing to disclose that: (a) AMSC was providing Sinovel with shipments in excess of their needs; (b) Sinovel was not paying for certain shipments; (c) AMSC was improperly recognizing revenue on certain shipments to Sinovel; and (d) as a result, AMSC' revenues were overstated.
On April 5, 2011, AMSC announced that Sinovel refused to accept shipments and refused to pay for shipments made during the 2010 fiscal year. The Company also announced it expected its 2010 fourth-quarter and fiscal year earnings would be substantially below previous projections. The following day, shares of AMSC plummeted by more than 42 percent.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
