After admitting that their PowerBalance bracelets are worthless pieces of plastic in Australia, the company has officially filed for Chapter 11 bankruptcy protection in the United States following a class action suit filed in a Los Angeles’ federal court.
What a surprise. Citing “sources with direct knowledge of the situation,” TMZ claims the settlement amount is $US57 million. The stupid makers of stupid bands with stupid holograms claim is only $US1 million and said that they are “not going out of business” in Twitter, despite filing for Chapter 11. In fact, spokesman Jason Damata told the NY Daily News that PowerBalance “is actually in the process of launching a new product, dubbed performance mouth gear in markets over the next few weeks.”
I hope this one has at least two holograms, one for performance, another one to whiten your teeth. [TMZ via NY Daily News]
Michael
Wednesday, November 23, 2011 at 9:10 AMSo Gizmodo will post information about dodgy wristbands with holograms, but not on silicone mediband bracelets which saves lives. The Gizmodo editorial team were sent information about Mediband’s new medibandPlus web based medical service attached to medibands, and no response was received from Gizmodo, not even a thank you, despite this commentator being active on other Gizmodo posts.
n-0rt
Wednesday, November 23, 2011 at 9:18 AMThis is the worst thing to ever happen in this town, Michael! THE WORST THING! You should blog about it, sir. That’ll learn ‘em.
Osiris Fox
Wednesday, November 23, 2011 at 12:56 PMSo Michael, what’s the pay like at Mediband?
None
Wednesday, November 23, 2011 at 3:23 PMBy the looks of things, I’d say terrible!
Michael
Wednesday, November 23, 2011 at 3:37 PMSorry to say we have actually saved lives, and are proud of this fact. Thanks for trolling!
Dang
Wednesday, November 23, 2011 at 5:05 PMI like how you were able to use ‘medi’ four times in a sentence.
Tim
Wednesday, November 23, 2011 at 11:41 AMHopefully its only a matter of time before the scam artists at CellSafe has karma bite them too.
Just This Guy ...
Wednesday, November 23, 2011 at 2:19 PMI can’t help but laugh.
At the dumb schmucks who keep buying this kind of crap.
Fools, money, parted, easily.
Jono
Wednesday, November 23, 2011 at 2:59 PMIt was so obvious that these bands were rubbish!
How can people be so naive!
Gordy
Wednesday, November 23, 2011 at 3:28 PMI think you’ll find that “magical thinking” is alive and well in all countries.