Shoals Technologies shares climbed 6.1% following a jury award of $96 million in a patent infringement lawsuit.
Shoals Technologies (SHLS) rose 6.1% after a North Carolina jury awarded the company $96 million in damages in a patent infringement case against Voltage LLC. The verdict found Voltage liable for infringing on Shoals’ patents, delivering a significant financial win for the solar component manufacturer.
The lawsuit centered on alleged unauthorized use of Shoals’ patented technology in Voltage’s products. Prior to the ruling, SHLS had sought substantial damages, though the exact figure had not been publicly disclosed. The case had been closely watched by industry participants amid rising litigation over intellectual property in the renewable energy sector.
Shares of SHLS closed higher following the announcement, reflecting investor optimism about the company’s legal and financial position. The award is subject to potential appeals or adjustments in post-trial proceedings.