Those $35 silicone Power Balance bracelets have turned into a multi-million dollar mistake for brothers Troy and Josh Rodarmel.
The creators originally claimed their bracelets were scientifically proven to enhance strength, balance and flexibility, but later admitted it was a bunch of hooey.
Not long after coming clean about their BS of a product, a class action lawsuit was filed against Power Balance, and recently settled for $57 million.
But wait, it gets worse!
According to sources, Power Balance is planning to file for bankruptcy and close up shop completely.
The moral of the story: don't lie about your product!