SPCE ALERT– Nationally Ranked Shareholder Rights Firm Labaton Sucharow is Investigating Virgin Galactic Holdings Inc. (NYSE: SPCE) For Potential Securities Violations and Breach of Fiduciary Duty
05/10/2021 - 10:32 PM
Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, is investigating potential securities violations and breach of fiduciary duty claims against Virgin Galactic Holdings Inc. (NYSE: SPCE).
On May 4, Virgin Galactic Holdings Inc. closed down over 9% on enormous volume after the space tourism company said it would restate certain past financial results in the wake of recent comments by the Securities and Exchange Commission on the accounting treatment of deals involving special-purpose acquisition companies.
The Company reported in a Current Report on Form 8-K that, following its review of the SEC Statement and consulting with its advisors, the Company will restate its consolidated financial statements included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The restatement is due solely to the accounting treatment for the warrants of Social Capital Hedosophia Holdings Corp. that were outstanding at the time of the Company’s business combination on October 25, 2019.
If you currently own shares and/or options of SPCE and want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com .
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Virgin Galactic Holdings Inc
SPCE Rankings
#5142 Ranked by Stock Gains
SPCE Stock Data
Industry
Small Arms Ammunition Manufacturing
Sector
Manufacturing
Tags
Finance, Financial Conglomerates, Electronic Technology, Aerospace & Defense, Manufacturing, Small Arms Ammunition Manufacturing
About SPCE
virgin galactic is the world’s first commercial spaceline. we are developing vehicles to fly private astronauts, research experiments, and satellites to space—democratizing access to space for the benefit of life on earth. the virgin galactic astronaut experience will include out-of-seat weightlessness and stunning views of earth from space onboard spaceshiptwo, our reusable spaceplane designed for us by aerospace pioneer scaled composites. spaceshiptwo has been designed to carry two pilots and as many as six astronauts (or more than 1,000 pounds of experiments) to space and back on commercial flights from new mexico’s spaceport america, the world’s first purpose-built commercial spaceport. we are also developing launcherone, a dedicated launch vehicle for small satellites. launcherone is designed to carry smaller satellites (typically 200-300 kilograms)) into earth orbit for historically low prices. together with our wholly-owned manufacturing arm, the spaceship company, virgin galact
