Austin fitness company tied to Mark Wahlberg settles shareholder lawsuit [Yahoo! Finance]
F45 Training Holdings Inc. (FXLV)
Company Research
Source: Yahoo! Finance
An Austin-based fitness company whose board of directors includes actor Mark Wahlberg has agreed to settle a proposed class-action lawsuit alleging it misled investors ahead of its initial public offering of stock. F45 Training Holdings Inc. is a franchiser of studios focused on 45-minute high-intensity workouts. It was founded in 2013 in Sydney, Australia and now has nearly 900 locations in the United States. Ten of those are in Austin, seven in San Antonio and and 20 in and around Houston. The company went public in July 2021, selling 18 million shares and raising more than $325 million for the company, which was then valued at more than $1 billion. FROM 2022: Austin fitness franchise F45 Training to lay off nearly 80 workers The lawsuit, which named Wahlberg and other directors, was filed in December 2022, about 18 months after the IPO. Shareholder Kenzie Goer alleged F45 overstated its growth potential in documents filed with the U.S. Securities and Exchange Commission.
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