Virgin Galactic wins court approval to settle derivative lawsuits

Virgin Galactic Holdings, Inc. (NYSE: SPCE) announced that a U.S. District Court for the Eastern District of New York granted final approval of a settlement resolving all claims in two shareholder derivative lawsuits against the company.

The cases, filed under the captions In re Virgin Galactic Holdings, Inc. Derivative Litigation and St. Jean v. Branson et al., have been fully resolved. The court issued its approval order on August 14, 2026.

Under the settlement terms, Virgin Galactic's insurers will pay $2.75 million to the company. Virgin Galactic will retain $1.375 million, with the remaining half paid to plaintiffs' counsel for attorneys' fees and costs.

The court's order releases all claims in the actions, along with any related claims based on the same allegations. No finding of wrongdoing was made against the company or any of its directors or officers.

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