Shares of Shoals Technologies Group experienced a record intraday drop of as much as 23% following an announcement from the US International Trade Commission.

The commission stated that it found no violations in a patent infringement case that the solar equipment company had levied against Voltage LLC.

Shoals Technologies Group, a leading provider of solar equipment, had accused Voltage LLC of infringing on its patents.

The US International Trade Commission, however, found no evidence to support these claims.