April 8, 2011
Suits Abound For AMSC
American Superconductor Corp. of Devens is being hit by a series of class action lawsuits in the wake of its announcement that a Chinese energy company is not paying for shipments of wind turbine products.
Class action suits on behalf of investors who bought stock in the company in recent months allege that AMSC artificially inflated its stock prices by misrepresenting its position or failing to disclose key information.
Levi & Korinsky of New York, Glancy Binkow & Goldberg LLP of Los Angeles and Federman & Sherwood of Oklahoma City, Okla., have all announced similar suits against the company.
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