Lululemon sued for patent and trademark infringements regarding its $52 Energy Bra.
Lululemon says four of Under Armour's sports bras, which range from the $29.99 Armour Strappy to the $39.99 Armour Eclipse Low Impact, copy the Energy Bra's design.
In the filing, Lululemon says "Under Armour's unauthorized acts have caused and will continue to cause irreparable damage to Lululemon and its business."
A representative for Baltimore-based Under Armour said the company "takes the intellectual property rights of others very seriously."
Lululemon's shares were slightly up early Tuesday afternoon. Under Amour's fell 1.2%.
What's Hot On TheStreet
Netflix is so impressive: By trouncing quarterly subscriber estimates and issuing solid guidance, Netflix Inc. (NFLX) did much to put to rest fears that its stock had gotten ahead of itself following a 31% rise so far in 2017, TheStreet's Eric Jhonsa says. The streaming giant also showed that it has reached a point where its sheer scale provides a competitive edge that makes it hard for even deep-pocketed tech and media rivals to slow it down, Jhonsa adds.
Overall, Netflix is an unstoppable beast because millennials like watching movies on the couch.
Tesla is bizarre: Tesla Inc. (TSLA) is adding two new executives from major media corporations to its board of directors after investors urged the electric carmaker to add members without close ties to CEO Elon Musk, TheStreet reports.