10:30 AM EST, 02/06/2025 (MT Newswires) -- Matthews International ( MATW ) said Thursday an arbitrator ruled in its favor in a dispute with Tesla (TSLA), affirming Matthews' right to sell its dry battery electrode technology to other customers.

The company filed for arbitration in January 2024 after a dispute with Tesla and said Tesla later pursued a separate legal action in federal court.

Matthews said it will resume sales immediately to other customers in the electric vehicle industry.

Tesla didn't immediately respond to a request for comment from a MT Newswires.

Shares of Matthews rose 7.4% in recent Thursday trading, and Tesla fell 2.8%.

Price: 28.72, Change: +1.98, Percent Change: +7.39