- American Superconductor (NASDAQ:AMSC) discloses a Chinese court has dismissed (citing a lack of evidence) a software copyright infringement suit filed by its Chinese subsidiary against ex-licensee Sinovel, with whom AMSC has been in a long-running dispute over the theft of wind turbine software code.
- The company is "seeking a cease and desist order with respect to the unauthorized use of its software, monetary damages of RMB 1.2 million (approximately $0.2 million) for its economic losses (with respect to Guotong only) and reimbursement of all costs and reasonable expenses." It plans to file an appeal.
- AMSC's shares soared in Feb. 2014 after China's Supreme Court ruled the company's infringement cases against Sinovel and Gutong Electric would be separate from its arbitration claims.
Chinese court dismisses AMSC's infringement suit
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