Lying to consumers is a sure way to get a business to go bankrupt and owe a lot of people a lot of money. The founders of the company Power Balance have learned that the hard way according to TMZ. Shaq and Lamar Odom had been filed lawsuits against the company in the wake of Power Balance’s bankruptcy case.
The good news is that Power Balance has agreed to give Shaq $200,310 and Odom $87,015. Power Balance is suffering these repercussions based on false scientific claims that their hologram bracelets to enhance athletes’ strength. Shaq was a paid spokesperson and Lamar was an investor in the company.
Even though both Shaq and Lamar settled with the company for lesser amounts than they were originally asking for, there is a possibility of another payout for both parties if Power Balance’s bankruptcy estate collects more money than anticipated. Power Balance as a company is in the middle of a $57 million class action lawsuit, which has forced the company to go under.