Sweetgreen bounces after Chipotle burrito bowl lawsuit settled

SWEETGREEN

06/04/2023 20:52

** Sweetgreen Inc's  SG.N  shares rebound 9.1% to $7.52 on
Thurs after salad chain and Chipotle Mexican Grill Inc  CMG.N 
settle legal suit
    ** Sweetgreen renames its newest menu item "Chicken +
Chipotle Pepper Bowl" after Chipotle sued it for trademark
infringement
    ** Chipotle said in separate statement new name "protects
our trademarks and intellectual property, and therefore, we have
both agreed to resolve the pending lawsuit."
    ** SG shares finished down 6.3% at $6.89 on Weds after
falling as much as 13% after news of lawsuit surfaced
    ** Including Thurs move, SG shares off ~12% YTD and have
shed ~75% over the past 12 months
    ** CMG shares edging down 0.7% to $1,685.71 on Thurs

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))