Investor Sues AMSC Over Revenue Restatement

Law360, New York (April 8, 2011, 5:53 PM EDT) -- An investor in wind turbine designer American Superconductor Corp. filed a class action against the company and its CEO on Wednesday in Massachusetts for allegedly hiding a costly falling-out with a major customer.

AMSC and CEO Gregory J. Yurek violated the anti-fraud provisions of the Securities Exchange Act by failing to disclose problems with its sales to China-based Sinovel Wind Group Co., investor Dave Lenartz said in a complaint filed in the U.S. District Court for the District of Massachusetts.

AMSC stock dropped more than 40...
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