Fitness-tracking company Jawbone, once worth $3 billion, is shutting down and liquidating its assets

Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source. Jawbone, which was once valued as high as $3 billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel. Last year, Pebble the first maker of a smartwatch sold its assets to Fitbit in a fire sale. As for Fitbit, its stock is trading at 52-week lows.

I'm pouring one out for my homies, Jawbone. Back when a bluetooth earpiece first landed in society, I bought my first one. A Jawbone Era. It looked like something Lieutenant Uhura wore on the bridge of the Enterprise. But it allowed me to listen to my music when out in public and still have one ear open to hear death approaching, or at least a car horn. They were good quality devices, and I always enjoyed the experience.

Their fitness trackers, not so much. It's tough to be competitive against Fitbit or Apple Watch when you have only five tiny LEDs to track your steps. It seems that the war for your wrist is reaching its final few combatants.