Yahoo Finance Virgin Galactic Holdings, Inc. Long-Term Investor Alert: Did You Acquire SPCE Before December 2019? Should Management be Held Accountable for Investors Losses?
SAN DIEGO, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential claims on behalf of Virgin Galactic Holdings, Inc. ("Virgin Galactic" or the "Company") (NYSE: SPCE) against certain of its current and former officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Virgin Galactic for allegations of violations of federal securities laws.
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (1) for accounting purposes, Social Capital Hedosophia Holdings Corp.'s ("SCH") warrants were required to be treated as liabilities rather than equities; (2) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (3) as a result, Virgin Galactic improperly accounted for SCH warrants that were outstanding at the time of the business confirmation of SCH, a special purpose acquisition company ("SPAC"), and the Company's then-private predecessor; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times.
If you are a current, long-term shareholder of Virgin Galactic, continuously holding shares before December 2019, you may have standing to hold Virgin Galactic harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, if you are a current, long-term shareholder of Virgin Galactic continuously holding shares before December 2019, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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