Levi & Korsinsky, LLP announces that a SPCE class action lawsuit has been filed on behalf of investors who purchased Virgin Galactic Holdings, Inc. (SPCE) securities between October 26, 2019 and April 30, 2021. For more on the SPCE Lawsuit please contact us today.
According to the 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 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.