Vibram USA was the subject of a class-action lawsuit over health claims it made about its shoes.
The company said the shoes could prevent injuries and strengthen muscles. critics argue there is no science to back up these claims.
While the company denies any wrongdoing, it has agreed to pay out $3.75 million to customers who bought the glove-like shoes. It says it will also stop making health claims in its ads.
If the settlement is approved, people who bought the shoes after march 2009 would be eligible for a refund.