THE BLAZE
Soccer icon David Beckham is suing actor Mark Wahlberg through their companies, alleging that Beckham lost millions due to poor business conduct by Wahlberg’s fitness studio brand.
Beckham’s DB Ventures Ltd. reportedly began its lawsuit against fitness chain F45 Training Holdings in 2022 — which is part-owned by Wahlberg — after Beckham was working as the company’s global ambassador.
Beckham alleged that he was misled when he began working with the company, according to the Independent, which eventually led to him losing £8.5 million, the equivalent to $10.5 million USD.
The alleged “fraudulent conduct” happened when Beckham was reportedly promised stocks but did not get them until months later after the price of shares tanked from around $12 to about $3.
In May 2023, Yahoo reported that the company had been notified by the NYSE that it was not complying with its listing standards. In August 2023, F45 Training Holdings announced it had delisted itself from the New York Stock Exchange after the 75% price drop, the Sun noted.
Wahlberg and his codefendants said that the allegations of fraudulent conduct were baseless, and they had asked a judge to dismiss the lawsuit.
