Wahlberg, Fitness Brand F45 Settle IPO Lawsuit for $11 Million

F45 Training Holdings Inc., several of its leaders including actor-entrepreneur Mark Wahlberg, and its underwriters have agreed to pay nearly $11 million to settle investors’ claims challenging the growth metrics in its initial public offering.

The proposed settlement provides significant benefits to investors given the wide range of estimated recoverable damages, and thus merits preliminary approval, the investors told the US District Court for the Western District of Texas Tuesday.

• Shareholders alleged F45 defined a growth metric in a way that allowed overreporting of multi-unit franchise agreements, regardless of whether they opened, and used other techniques to mislead investors about ...