Walmart Settles Lawsuit Regarding Allegations Of Light-Bulb Patent Infringement: Report

Walmart Inc. WMT has reportedly resolved the University of California's light-bulb patent lawsuit.

The university accused the retail behemoth of infringing its patents that were associated with "filament" LED light bulbs (invented at the Santa Barbara-based school system), Reuters reported.

The federal judge in Los Angeles would dismiss the case with prejudice, which means it cannot be refiled, the report added.

Also Read: Walmart, Centric Brands Probe Cambodia Supply Chains Amid Labor Concerns

Reuters said this is one of the several lawsuits the University of California filed against U.S. merchants over products sold from China. 

Price Action: WMT shares are trading higher by 0.05% to $157.90 premarket on the last check Monday.