Jawbone Hits FitBit with Patent Suit Ahead of IPO

Jawbone recently filed a patent infringement lawsuit against FitBit, the wearable device company that is preparing to price its IPO later this month. The suit claims that FitBit's activity tracking devices infringe three patents owned by BodyMedia, a company that Jawbone acquired for $100M in 2013. Jawbone also sued FitBit two weeks ago for allegedly recruiting its employees and stealing its trade secrets.