NEW YORK, April 6, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against American Superconductor Corp. (Nasdaq:AMSC) on behalf of shareholders resulting from disclosure that the company may have misled investors about sales and accounts receivable related to its largest customer Sinovel.
On April 5, 2011, the company announced that Sinovel had refused to accept contracted shipments. Sinovel has also refused to pay for certain contracted shipments made in fiscal year 2010. This disclosure is contrary to prior company statements assuring investors that it was not having any difficulties collecting accounts receivable.
This adverse news caused American Superconductor share price to drop substantially, damaging investors.
The Rosen Law Firm is preparing a class action lawsuit to recover losses for American Superconductor shareholders. If you purchased or acquired American Superconductor stock between November 2, 2010 and April 5, 2011 and would like to obtain information as to your legal rights and ability to recover your losses in American Superconductor shares, please visit the website at for more information. You may also contact Laurence Rosen, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 email@example.com firstname.lastname@example.org www.rosenlegal.com