NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Virgin Galactic Holdings, Inc. (NYSE: SPCE) on behalf of Virgin Galactic stockholders. Our investigation concerns whether Virgin Galactic has violated the federal securities laws and/or engaged in other unlawful business practices.
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On April 30, 2021, after trading hours, Virgin Galactic reported in a Current Report on a Form 8-K that, following its review of a recent statement issued by the U.S. Securities and Exchange Commission on April 12, 2021, and consulting with its advisors, it will restate its consolidated financial statements included in its Annual Report on a Form 10-K for the fiscal year ended December 31, 2020. The restatement is due to the accounting treatment for the warrants of Social Capital Hedosophia Holdings Corp. that were outstanding at the time of Virgin Galactic’s business combination on October 25, 2019.
Following this news, Virgin Galactic’s stock price fell from a close of $22.15 per share on April 30, 2021, to a close of $20.14 per share on May 3, 2021, the next trading day.
If you purchased or otherwise acquired Virgin Galactic shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.