Shoals Technologies Wins Patent Infringement Case Against Voltage
Shoals Technologies (SHLS) said Wednesday it achieved a favorable outcome in its patent infringement lawsuit against Voltage and Ningbo Voltage Smart Production in the US District Court for the Middle District of North Carolina.A jury ruled Wednesday that Voltage willfully infringed Shoals' patents, awarded Shoals more than $96 million in damages, and rejected Voltage's arguments challenging the validity of the patents. The judgment could be further increased at the court's discretion due to the jury's finding of willfulness, the company added.Shoals said the court also indicated that it will grant a preliminary injunction preventing the manufacture, distribution or sale of the Voltage LYNX product in the US, effective immediately.Shares of Shoals were up 5% in Wednesday afternoon trading.Price: $7.24, Change: $+0.35, Percent Change: +5.01%
