The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Virgin Galactic Holdings, Inc. (NYSE: SPCE) securities between October 26, 2019 and April 30, 2021.
According to the Virgin Galactic lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) for accounting purposes, Social Capital Hedosophia Holdings Corp.’s (“SCH”) warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the business combination; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Virgin Galactic you have until July 27, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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