JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the world's largest solar panel manufacturers, saw its stock price plummet by a staggering 14.77% on Monday, October 29th, 2024. This sharp decline was triggered by allegations of patent infringement leveled against JinkoSolar and several other solar panel makers by First Solar, a prominent U.S. solar company.
During a conference call with analysts on Tuesday, First Solar disclosed that it has sent legal notices to JinkoSolar, Canadian Solar, JA Solar, Longi, and Trina Solar, alleging that these companies are violating its patents related to a leading solar technology. The specifics of the patent infringement claims have not been made public, but the allegations have raised concerns among investors about potential legal disputes and associated costs that could negatively impact JinkoSolar's operations and financial performance.
While the extent of the legal battle remains uncertain, any adverse rulings or settlements in favor of First Solar could pose significant challenges for JinkoSolar and other accused companies. This uncertainty has likely contributed to the sharp sell-off in JinkoSolar's stock as investors grapple with the potential implications of the patent infringement allegations.
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