Shaq and Lamar Odom have scored a huge victory over Power Balance the company that duped athletes into believing its hologram bracelets could provide super-strength. They just agreed to fork over $287,000 to get the NBA stars off its back. Read more after the jump.
Shaq and Odom filed legal docs in Power Balance’s bankruptcy case, claiming they were owed money for their involvement in the company. Lamar was an investor. Shaq was a paid spokesperson.
Shaq originally demanded $308,961 and Lamar $133,870 — but according to new court docs, they both agreed to take a little less after settlement negotiations … Shaq got $200,310 and Lamar $87,015.
But they could get even more — under the deal, if PB’s bankruptcy estate collects more money than they anticipate from ensuing litigation, Shaq and Lamar could get an additional payout.
FYI, PB has virtually gone belly up in the wake of the $57 million class action lawsuit filed against the company over its bogus scientific claims. The lawsuit forced PB into bankruptcy.
