OTTAWA (dpa-AFX) - Canadian Solar Inc. (CSIQ) and Canadian Solar (USA) Inc. on Wednesday announced reaching of a settlement agreement with Solaria, resolving their pending patent litigation. Neither party has admitted any liability or wrongdoing, and no payment would be required under the settlement.
The move follows the claim construction order by the U.S. District Court for the Northern District of California adopting the core argument advanced by Canadian Solar, as well as the decision by the U.S. International Trade Commission to grant Canadian Solar's request to review the initial determination of its Administrative Law Judge.
Accordingly, Solaria has agreed to terminate the Section 337 investigation it initiated at the U.S. International Trade Commission and to dismiss with prejudice the patent infringement claims it asserted against Canadian Solar in the Northern District of California.
Canadian Solar has agreed to withdraw the inter partes review it filed with the U.S. Patent and Trademark Office challenging a Solaria asserted patent.
No changes to Canadian Solar's product offerings would result from the settlement. Canadian Solar had already discontinued the shingled solar module technology at issue in the litigation several months ago.
Shares of Canadian Solar are currently trading in pre-market at $35.00, down $0.09 or 0.26 percent from the previous close.
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