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Virgin Galactic Investors: KlaymanToskes Offers Stock Loss Recovery Options
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Rhea-AI Summary
Investment loss attorneys KlaymanToskes are investigating losses over $100,000 in Virgin Galactic Holdings. They encourage investors with large positions in Virgin Galactic at Credit Suisse, Morgan Stanley, or Goldman Sachs to contact them for recovery options.
Positive
Investors who sustained losses over $100,000 in Virgin Galactic Holdings are being offered recovery options by KlaymanToskes.
Credit Suisse, Morgan Stanley, and Goldman Sachs were employed as 'Agents' to sell shares of Virgin Galactic and will also be agents of its $400 million subsequent stock offering.
Between July 2021 and June 2023, Virgin Galactic's shares have fallen by 88%.
Brokerage firms that failed to disclose risks associated with the SPAC and recommend risk management strategies may be held liable for investor losses.
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The Securities Law Firm of KlaymanToskes Offers Investors With Losses in Virgin Galactic Holdings Recovery Options
NEW YORK, NY / ACCESSWIRE / July 19, 2023 / National investment loss attorneys KlaymanToskes announces an investigation on behalf of investors who sustained losses over $100,000 in Virgin Galactic Holdings, Inc. (NYSE:SPCE). KlaymanToskes encourages investors who had large positions in Virgin Galactic at Credit Suisse, Morgan Stanley, Goldman Sachs, or any other brokerage firm to contact the firm immediately to discuss recovery options at 888-997-9956.
On October 25, 2019, Virgin Galactic completed its merger with Social Capital Hedosophia, a "Blank Check" or Special Purchase Acquisition Company ("SPAC"). SPACs are historically risky as they lack the earning history and proven management teams that accompany traditional Operating Company IPOs.
A July 11, 2021 SEC filing states that Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC were employed as "Agents" to sell shares of Virgin Galactic in exchange for compensation at a rate of up to 2.0% of the gross sales price per share. Last month, Virgin Galactic announced that the same brokerage firms will be Agents of its $400 million subsequent stock offering.
Between Virgin Galactic's first offering in July 2021, and its recent announcement in June 2023, its shares have fallen by 88%. As the SPAC's underwriter, Credit Suisse is responsible for conducting proper due diligence of the deal, giving them a heightened duty to disclose any potential risks to their clients.
Brokerage firms that failed to disclose the underlying risks associated with the SPAC, and/or that failed to recommend risk management strategies to customers with large, concentrated or margined positions in Virgin Galactic may be held liable for investor losses.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes is investigating losses over $100,000 in Virgin Galactic Holdings.
Which brokerage firms were employed as 'Agents' to sell shares of Virgin Galactic?
Credit Suisse, Morgan Stanley, and Goldman Sachs were employed as 'Agents' to sell shares of Virgin Galactic.
How much have Virgin Galactic's shares fallen between July 2021 and June 2023?
Virgin Galactic's shares have fallen by 88% between July 2021 and June 2023.
Who may be held liable for investor losses?
Brokerage firms that failed to disclose risks associated with the SPAC and recommend risk management strategies may be held liable for investor losses.
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
