Why is David Beckham suing F45, the fitness company Mark Wahlberg partly owns? The lawsuit explained [Yahoo! Finance]
F45 Training Holdings Inc. (FXLV)
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Source: Yahoo! Finance
Beckham's company DB Ventures (DBVL) filed the lawsuit in the U.S. District Court of Central California in April 2023. According to court documents obtained by NBC News, attorneys for DB Ventures alleged F45 Training, which Wahlberg serves as chief branding officer and owned a 36% stake of, failed to pay Beckham shares of stock he said he was owed after the company went public in July 2021. Why did David Beckham sue F45 Training? Beckham entered into a five-year agreement with F45 Training, an Australian-based fitness company, in 2020 to help the brand grow ahead of its initial public offering, according to an amended complaint. As part of the agreement, Beckham posted several social media posts about F45 Training. (Beckham's posts have since been deleted.) F45 agreed to pay Beckham $1.5 million a year, along with shares of stock in the company which would be available to him six months and again 12 months after the company went public, the complaint said. Beckham's attor
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- FS8 FITNESS STUDIO LAUNCHES FLAGSHIP AUSTIN LOCATION, SPARKING GLOBAL EXPANSION IN SOUTH KOREA, U.K. AND EUROPE [Yahoo! Finance]Yahoo! Finance
- Mark Wahlberg Posts Shirtless Video Promoting his Company amid David Beckham Lawsuit [Yahoo! Finance]Yahoo! Finance
- David Beckham is suing Mark Wahlberg's fitness company for $14 million—making him the third former pro athlete to do so [Yahoo! Finance]Yahoo! Finance