A California woman has filed a lawsuit against New Balance accusing the brand of deceiving customers with claims that their toning shoes create more sculpted legs. The complaint is seeking class-action status at the US District Court in Boston, with damages of over $5 million to the woman and others with the same claim. New Balance isn’t the only company being targeted as there is a case against Reebok. Sketchers also took a big hit with their stock falling from 20.00 to 19.40, a 3% drop, in a matter of minutes triggered by a big sell off. The stock neared it’s 52 week low.<\/p>\n
There has been much speculation about the effectiveness of toning product, but the industry continued to see strong growth with sales figures expecting to exceed $1.5 billion in 2010.<\/p>\n
Could the craze be over? Is the bubble about the burst? Whatever the case may be, this lawsuit does not help any brand trying to sell toning shoes.<\/p>\n