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Technology Stocks : American Superconductor (AMSC)

AMSC 36.53

+4.9%

Nov 6 3:59 PM EST

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To: Art Bechhoefer who wrote (764)	6/28/2013 12:10:51 AM
From: David C. Burns	Read Replies (1) of 973

US charges Sinovel with trade secret theft By Ed Crooks in New York Financial Times - FT.com The US government has charged Sinovel, one of the largest Chinese wind turbine manufacturers, with stealing trade secrets from one of its US suppliers, alleging the offence amounted to “attempted corporate homicide”. In a grand jury indictment issued on Thursday, the US alleged that in 2011 Sinovel had stolen proprietary software and technical details belonging to AMSC, a US company that makes wind turbine components. The Department of Justice said Sinovel, two of its executives and a former employee of AMSC had conspired to obtain copyrighted information so it could use the company’s systems in its turbines without having to pay for them. Turbines using AMSC software were imported to the US and installed in Massachusetts. If proved, the charges carry a maximum penalty that could run into the billions of dollars, and potentially long prison sentences. -more- ft.com

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