Virgin Galactic ($SPCE) Reached a Settlement with Investors After Turbulent Flight Path

Court: E.D. New York

Case: 1:21-cv-03070

From billionaire-backed hype to FAA grounding, Virgin Galactic’s journey since Unity 22 has been anything but smooth.

In July 2021, Richard Branson’s headline-grabbing flight was pitched as proof SPCE was ready for liftoff into commercial space tourism.

However, Unity 22 strayed from its assigned airspace, a fact not revealed until months later. With that mistake, the FAA stepped in, grounding all flights and forcing delays.

After that, SPCE stock dropped by almost 18%, and in May 2022 investors formally filed a lawsuit accusing the company of overstating tech readiness and hiding safety risks.

Now, SPCE has agreed to settle, and while the details are still in progress, if you took a hit during that period, you may be entitled to a part of the payout. You can check the details and file a claim here.