First Solar drops ITC patent complaint
First Solar withdrew its trade commission patent complaint against several rival solar manufacturers to focus on federal court lawsuits. The decision follows recent trade measures on solar imports and sent company shares down five percent.
Insights:
First Solar dropped a patent infringement complaint before the International Trade Commission on Wednesday, shifting its legal battle to federal court against rival manufacturers over advanced solar technology. The Phoenix-based company's shares fell 5% on the news, touching their lowest level in five months. The strategic pivot follows new trade measures on polysilicon imports in the United States.
