PowerBalance Admits Wristbands Are a Scam
“In our advertising we stated that Power Balance wristbands improved your strength, balance and flexibility.
We admit that there is no credible scientific evidence that supports our claims and therefore we engaged in misleading conduct in breach of s52 of the Trade Practices Act 1974.
If you feel you have been misled by our promotions, we wish to unreservedly apologise and offer a full refund.”
Although PowerBalance was misleading in its marketing campaign, I kind of admire this company for their scam, if you can even call it that. People have been selling bogus lucky charms and snake oil since the beginning of time, and PowerBalance just decided to use modern-day mass media and celebrity influence to maximize profits. It took Australian laws prohibiting misleading advertising to force them to admit their deceptive conduct.
And yet, no such admission has been made in the United States, and none are forthcoming just yet. But you've all been warned.