04:29 AM EDT, 08/19/2024 (MT Newswires) -- Starbucks ( SBUX ) is being sued for a third time by a company alleging that the retailer stole its concept for coffee-flavored lipstick, Reuters reported Friday.

The company, Balmuccino, filed a complaint in Manhattan federal court after a federal judge in Seattle dismissed a similar lawsuit more than a year ago for technical reasons, the report said.

Balmuccino seeks compensation and punitive damages. It claims that it pitched the concept to Starbucks ( SBUX ) in 2018 and claims the coffee retailer launched a similar product the following year, Reuters reported.

Starbucks ( SBUX ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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