Virgin Galactic settles derivative lawsuits for $2.75 million

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Go back to Virgin Galactic settles derivative lawsuits for $2.75 million

Virgin Galactic Announces Notice of Settlement of Derivative Actions

May 28, 2026 4:33 PM EDT

ORANGE COUNTY, Calif.--(BUSINESS WIRE)-- Virgin Galactic Holdings, Inc. (NYSE: SPCE) (Virgin Galactic or the "Company) today announced that on May 19, 2026, the U.S. District Court for the Eastern District of New York (the District Court) issued an order granting preliminary approval of its proposed settlement with plaintiffs, executed on April 23, 2026, which would resolve all claims pending in the shareholder derivative actions captioned In re Virgin Galactic Holdings, Inc. Derivative Litigation, Case No. 1:22-cv-00933 (E.D.N.Y.) and St. Jean v. Branson et al., Case No. 1:22-cv-7551 (E.D.N.Y.).... More