Walmart confirmed to Talk Business & Politics that it has settled a legal battle with Zest Labs over trade secrets. The retail giant was ordered to pay Zest Labs $222 million in May. It was the second court order won by Zest Labs since the litigation began in 2018.
The first judgment of $115 million, ordered in 2021, was set aside by the court, with a new trial being ordered.
Zest Labs, formerly Rogers-based Ecoark, collaborated with Walmart from 2014 to 2017, enabling the retailer to utilize their technology and reduce food waste by 30% among perishable goods, the lawsuit noted. Zest Labs claimed Walmart misused the technology and hindered the company’s ability to move forward. The suit claimed Walmart developed its own technology using Zest Labs’ trade secrets.
In May, Walmart denied the charges, saying the company respects the intellectual property of others and it would defend itself against the claims, and the company sought to appeal the verdict.
That stance changed on Tuesday (July 29), when Walmart released the following statement via email.
“Zest Labs Holdings LLP, Zest Labs, Inc. and Walmart Inc. have agreed to a confidential settlement that resolves all issues between them.”