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First Solar Drops ITC Patent Case, Shifts Focus to Lawsuits Against Rivals
First Solar said the move is procedural and will let federal patent suits proceed as its shares fell about 5%, according to the company.
On Wednesday, First Solar Inc voluntarily withdrew its patent infringement complaint before the International Trade Commission , seeking termination of the investigation without prejudice and leaving open the possibility of refiling later.
General Counsel Jason Dymbort described the withdrawal as procedural, citing the Trump administration's recent trade measures on polysilicon imports that now address the border concerns the ITC case was partly designed to resolve.
First Solar stock fell 5% on Wednesday, touching its lowest level in roughly five months, despite the company owning TOPCon patents acquired through its 2013 TetraSun purchase but manufacturing cadmium-telluride modules instead.
T1 Energy spokesperson Russell Gold called the ITC complaint "flawed," while First Solar will continue pursuing patent lawsuits in federal court against Canadian Solar, Jinko Solar, T1 Energy and Trina Solar.
Management calls the withdrawal procedural, but the stock's 5% decline versus a flat solar sector suggests investors view this as strategic retreat, with district court suits now the company's primary enforcement vehicle.