Jawbone Sues Fitbit Before IPO

Just as Fitbit is gearing up for its initial public offering, rival health tracking hardware firm Jawbone filed a lawsuit accusing the company of “systematically plundering” confidential information. Jawbone claims that Fitbit has poached employees, who download the information prior to leaving. In its filing, Jawbone described what it called “clandestine efforts of Fitbit to steal talent, trade secrets and intellectual property from its chief competitor.” The filing quotes an unnamed executive search consultant, who allegedly said, “Fitbit’s objective is to decimate Jawbone.” In a statement, Fitbit said it “has no need to take information from Jawbone or any other company.”