Sweetgreen stock falls after Chipotle sues for trademark infringement over burrito bowl
Publishing timestamp: 2023-04-05 16:01:34
Summary
Chipotle Mexican Grill has filed a lawsuit against Sweetgreen, alleging trademark infringement over its new "Chipotle Chicken Burrito Bowl." Chipotle is asking for an injunction against Sweetgreen and profits that Sweetgreen earns from the menu item. Sweetgreen's stock closed down 6% after the lawsuit was filed. Chipotle claims that it sent Sweetgreen a cease and desist notice before filing the lawsuit, but Sweetgreen never responded. The lawsuit also notes that Chipotle and Sweetgreen are competitors in the fast-casual sector.
Sentiment: NEGATIVE
Keywords: restaurants, sweetgreen inc, breaking news: business, business news, retail industry, chipotle mexican grill inc, business, lawsuits,