Power Balance is a company that based itself on a claim that it couldn't prove - the claim an electrically charged hologram would provide extra-strength and balance to those who wear it. The company was already condemned to pay minor fines in some countries and to remove some of its claims - something it didn't do. Now, it faces a major law suit and risks bankruptcy. My opinion on that: a company based on a (probable) lie (unless it is able to produce the evidence it didn't so far) should not exist - we shouldn't allow businesses to compete on cheating consumers, but on good and value added products that correctly address consumers needs.
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