02:40 PM EST, 02/06/2025 (MT Newswires) -- (Updates with the latest stock movement in the first and last paragraphs.)

Matthews International ( MATW ) shares were up about 11% in recent Thursday trading after 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 MT Newswires.

Shares of Tesla were down 2.3% in recent trading.

Price: 29.63, Change: +2.89, Percent Change: +10.81