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Chinese court dismisses AMSC's infringement suit

  • 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.

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