Virgin Galactic Holdings, Inc. Securities Litigation

Filing Deadline: July 27, 2021

If you purchased a significant amount of shares of Virgin Galactic Holdings Inc. Common Stock (NYSE: SPCE), you have certain options. Investors should contact us before July 27, 2021.

 

Lawsuit Overview

Defendant:Virgin Galactic Holdings Inc. Common Stock
Date Filed:May 28th, 2021
Sector:Consumer Services
Industry:Transportation Services
Class Start Date:October 26th, 2019
Class End Date:April 30th, 2021

On October 25, 2019, post-market, Virgin Galactic was formed via a business combination between Social Capital Hedosophia Holdings Corp. ("SCH"), a special purpose acquisition company ("SPAC"), and the Company's then-private predecessor, after which SCH changed its name to "Virgin Galactic Holdings, Inc." and its ticker symbol to "SPCE" (the "Business Combination").

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) for accounting purposes, SCH's warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the Business Combination; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Shane Lavin, et al. v. Virgin Galactic Holdings, Inc., et al.

Date Filed:May 28th, 2021
Class Period Start:October 26th, 2019
Class Period End:April 30th, 2021
First Identified Complaint Filings
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