The company with exclusive rights to Polaroid's instant and action products filed a patent-infringement lawsuit Tuesday against GoPro, claiming the new cube-shaped Hero4 Session is a ripoff of the Polaroid Cube, CNBC has learned.
GoPro's stock was down more than 2 percent an hour after the lawsuit was filed.
The Hero4 Session launched last July, 18 months after the Polaroid Cube.
According to the complaint, Ridgefield, New Jersey-based C&A Marketing is seeking an order awarding C&A Marketing all of GoPro's profits from sales, plus interest and attorney fees.
In response to the allegations, a GoPro representative told CNBC the company's timeline of patents proves that it was working on the Hero4 Session long before a competitive product was unveiled. The representative also said EU patents for the Hero4 were issued in March and that the company is still awaiting a U.S. patent that it sought last year.
The lawsuit, filed in U.S. District Court in New Jersey, comes at a challenging moment for GoPro. The company's third-quarter earnings last week came in below expectations, as the company saw unusually slow sales over the summer, and a weak launch for the Hero4 Session. After the company dropped the price 25 percent to $299, sales picked up.