Walmart withdraws complaint against Tesla solar panels


Walmart Inc. WMT, +0.87% has withdrawn its complaint against Tesla Inc. TSLA, +0.72% over solar panels that the retailer said were faulty, according to a Monday filing in the New York courts. The document does not specify a settlement, monetary or otherwise. Walmart filed the complaint in August, saying that a spate of rooftop fires in several of its stores were allegedly caused by Tesla solar panels. Walmart sued for breach of contract and alleged “gross negligence” on Tesla’s part. Tesla bought SolarCity Corp. for $2.6 billion in 2016 and incorporated the solar and energy storage business into its own. Tesla and Walmart shares ticked higher in midday trading Tuesday, a mixed day for stocks in the wake of records for the benchmarks on Monday.


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