Power Balance, the company that would have led you to believe their hologram-embedded bracelets could give you super-human balance and strength, is going to pay out $57 million to settle a class action lawsuit filed by buyers of the product, TMZ reported.

The company will then close shop under bankruptcy.

The suit, filed in August in Los Angeles, accused the company of duping customers into believe that could add balance, flexibility and strength without any ACTUAL evidence that the product did anything.

The company made a big splash a few years ago with Drew Brees and other superstars endorsing the product. Turns out there is no such thing as magic.

About The Author

John Guilfoil is the editor-in-chief of Blast: Boston's Online Magazine and the Blast Magazine Network. He can be reached at guilfoil.j@blastmagazine.com. Tweet @johnguilfoil.