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Sinovel fined $1.5M in trade secret case

Beijing, China-based Sinovel Wind Group was ordered to pay the maximum allowable fine, $1.5 million, for stealing trade secrets from AMSC (fka American Superconductor) that led to a $1.1 billion loss in AMSC’s total revenues in 2011, according to a Wisconsin State Journal article.

Previously, Sinovel agreed to pay $60 million in restitution for stealing copyrighted information that caused millions in damage to AMSC and forced the company to lay off 700 workers, leave Madison, and downsize an office in New Berlin, Wisconsin.

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