Internet Falsehood; I’m unsurprised at the lack of source.

I’ll counter your baseless claim with a contradicting one that’s at least easier to verify.

• The Lawsuit (True): In 2014, Red Bull settled a class-action lawsuit in the U.S. for ~$13 million. The lawsuit claimed the company’s marketing was deceptive because the drink doesn’t actually provide the physical or mental “boost” promised by the “Gives You Wings” slogan beyond what a cup of coffee would provide.
• The Slogan Change (False): Red Bull did not change the spelling because of the lawsuit. In fact, Red Bull had been using the stylized “wiiings” in various marketing campaigns and its logo long before the 2014 settlement.