Kessler Topaz Meltzer & Check, LLP: Investigation on Behalf of Virgin Galactic Holdings, Inc. Shareholders

Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of purchasers of Virgin Galactic Holdings, Inc. (“Virgin Galactic”) (NYSE: SPCE) securities between February 28, 2020 and April 30, 2021, inclusive.

Virgin Galactic investors may receive additional information about this investigation by clicking the link “Submit Your Information” above.

Virgin Galactic is a vertically integrated aerospace and space travel company that is developing commercial spacecraft and aims to provide suborbital spaceflights to space tourists.  

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 wish to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll-free at (844) 887-9500; or via e-mail at [email protected].