« BACK TO TMZ TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Power Balance Bracelets

Forced to Pay $57 Million,

Expected to Close Shop

11/21/2011 8:53 AM PST BY TMZ STAFF

Drew Brees Power Bracelets
Power Balance -- the company that allegedly duped athletes into believing its bracelets could provide super-human strength -- is about to take a $57 million dollar hit in a lawsuit filed by people who called BS on the product ... TMZ has learned.

As we previously reported, a class action suit was filed in federal court in L.A. back in January ... alleging consumers were duped into believing the hologram-embedded band was scientifically proven to enhance balance, flexibility and strength. There was just one small problem -- there was never any hard evidence to back those claims.

Now, sources with direct knowledge of the situation tell TMZ ... the company has reached a settlement worth $57.4 million, intended to compensate all those who were misled into buying the product.

And it gets worse for PB -- we're told the company will be declaring bankruptcy and plans to fold up shop altogether.

The Power Balance bracelets CRUSHED IT when they first appeared on the scene a few years ago -- with superstars like Drew Brees and Shaq vouching for the product.

Turns out ... size, strength and talent can't be sold in stores.

update_bar

3:10 PM: Power Balance officially filed for bankruptcy this morning ... but afterward, the company posted a tweet stating, "Power Balance is not going out of business."

For more sports stories, check out tmzsports.com!
98 COMMENTS

No Avatar

Previous 15 Comments | 1 | 2 | 3 | 4 | 5
61.

Gramanie    

LOL!!! We were watching WWE Survivor Series PPV last night & saw Dolph Ziggler wearing an ugly black & neon green bracelet & now I see what it is. Maybe that helps explain his bleached hair & "cougar" Vicki Guerrero

1003 days ago
62.

Leader of the ignorant masses    

Might as well fold up shop. Who would endorse or buy their products after losing a major lawsuit like that?

1003 days ago
63.

Throwback kid    

I wore one for about a day and a half and it gave me terrible diarrea. I couldn't eat anything the next day except a few crackers and gingerale. It took 3 days before my stool became solid again and I think it was all because I wore this bracelet

1003 days ago
64.

Pongo    

So being f'ing stupid is now with $57 million? Only in America.

1003 days ago
65.

Jim    

I know what everybody is saying about this having no real basis however my wife broke her neck at 19 years old she is now 55 she has suffered severe nerve damage in both legs her walking has gotten worse and she was losing her balance and falling a lot desperate for anything we gave this bracelet a try, you can call it magic or call it a hoax but it's been approximately 6 months now and she has not fallen once we believe

1003 days ago
66.

Sniper4x4    

I remember a couple years back my lady and I were walking thru a tent @ a car show the guys stopped me and were attempting to work me over for their demonstration (1. I am a salesman myself so my guard is up 2x 2. mama didn't raise no fool) the guy was attempting to show me how by simply holding it (the bracelet) would supposedly balance me out. I'm no little guy either 5'9" 250lbs. but it was hillarious as he was attempting to scam me I was abl;e to pass it to my lady without him noticing and he was all see I can't pull your arm down to throw you off balance, I said ok cool now lets try it with me holding your bracelet (his jaw dropped and new he was caught, I wish there was a video camera watching to catch their scam. these guys simply pray on people that are too naive which shouldn't be considered sales it shouled be marked as a illegal scam that preys on the innocent.

1003 days ago
67.

k    

I must have gotten a good one,Mine works great...i surf like slater now !

1003 days ago
68.

Athlete01    

I haven't seen one post of anyone whose ACTUALLY USED the product...just ignorant blow hards. The bracelet works differently for different people; some experience more stamina, some less joint pain, for me it was deeper sleep. My whole family of athletes uses a different brand of bracelet, but the fact is they work or we wouldn't use them. Now go back to playing your video games you group of armachair athletes...you make me snicker.

1003 days ago
69.

wonderbra    

why is it that they're still allowed to sell their "magical" bracelets even when they've already admitted it was all a scam? seriously, why?

1003 days ago
70.

RainyDayInterns    

How disappointing...that a plastic band with a hologram is nothing but just that.

Good thing we stayed with our copper bracelet powered by rare-earth magnets and crystals!!!

1003 days ago
71.

Space Ghost    

I have Power Bands. My Power Bands are cool. I can blow up Zorak with my Power Bands. They don't have holograms on them, though. They have force fields and blast rays on them, though. I wish they had holograms on them and recommendations from the Shaq. That would be great. Zorak would be hella jealous.

1002 days ago
72.

ChubbyMcHuggs    

TMZ, you're a joke. Facts never stop you from posting a story do they? The actual settlement was $1M not $60...M.

995 days ago
73.

Arika    

People just need to do their research on these products. Visit www.innerenergy.org
I work for this company and I swear on my life these bands work. I work 7 hrs a day standing on hard floors all the time. I have had serious back issues for the last 8 or so years and was supposed to be getting surgery to fix the problem. Also, since I was 5 years old, I have suffered from migraines nearly every day. My brain swells two much, so my headaches are normal migraines, and my migraines are about 3 times as bad. They have always caused tears, and sometimes they gotten so bad i would black out or pass out. No over the counter medication can help my headaches.
When I started working here, I of course have to wear the bands and also a pendant. My wrist bands were tested with an ion tester and my two bands have over 1700 negative ions each in them. My pendant has 3098 negative ions. My back pain has gone away, my headaches and migraines have gone away, and I sleep a looooooooooot better. I feel more relaxed and less agitated. I have more energy during the day, and I also have really bad hay fever and recessive air way disease. I haven't taken any allergy medication in 5 months, and i usually have to take two inhalers every day and my use of inhalers has decreased for sure. I also have carpel tunnel in my hands and with the bands on or even the pendant around my wrist, the pain goes away.
So these products really do work, it just depends on how they are made and how many ions are in the bands.
Inner Energy has 160...0-1900 negative ions in each band. They have almost 2000 negative ions in the pet tags, and 3000-4000 negative ions in the Quantum Pendants.
If you would like some information on our product, please email arika_v@msn.com.

943 days ago
74.

Hayley    

To be honest, I bought one of the Power Balance bracelets. I didn't care about "Super Human Strength" I personally bought it because it looked cool. I have a Phiten necklace as well and it doesn't do anything either. I wear my bracelet everyday and don't regret buying it.

931 days ago
75.

Lee Harmon    

PB is still in business - they have their own web site where they sell bracelts, necklaces and even mouth guards!! They call themselves Power Balance Performance Technology!!

910 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5

Around The Web