02:29 PM EDT, 10/02/2025 (MT Newswires) -- Matthews International ( MATW ) said the US District Court for the Northern District of California confirmed an arbitration ruling in favor of the company's intellectual property claim, dismissing Tesla's (TSLA) challenge to overturn the outcome.

"This ruling is a significant validation of our technology," Matthews Chief Executive Officer Joe Bartolacci said Thursday in a statement. "Our precision engineering expertise and proprietary (dry battery electrode) technology will help customers worldwide reduce costs and improve performance for next-generation batteries."

Matthews shares rose 3.3% in recent Thursday trading, and Tesla fell 4.3%.

Price: 24.86, Change: +0.80, Percent Change: +3.33