AMSC Submits Appeal to China's Supreme People's Court

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AMSC Submits Appeal to China's Supreme People's Court

AMSC

Linked by GlobeNewswire ( track newsfeed | ignore newsfeed ) - April 10, 07:00AM from (www.globenewswire.com)

DEVENS, Mass., April 10, 2012 (GLOBE NEWSWIRE) -- AMSC (Nasdaq:AMSC), a global solutions provider serving wind and grid leaders, today announced it has filed an appeal with China's Supreme People's Court. AMSC's appeal relates to the Hainan Higher Court's decision on April 5, 2012 to uphold the Hainan Province No. 1 Intermediate People's Court's dismissal of AMSC's civil case against Sinovel Wind Group Co., Ltd. (Sinovel) and Dalian Guotong Electric Co., Ltd. (Guotong). This is the smallest of four legal actions that AMSC has brought against Sinovel. In total, AMSC is seeking to recover from Sinovel more than $1.2 billion for contracted shipments and damages in these cases, which stem from Sinovel's contractual breaches and AMSC's discovery of intellectual property theft by Sinovel employees.

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