Virgin Galactic Receives U.S. District Court Final Approval Of Settlement Resolving All Claims Pending In Shareholder Derivative Actions Case; Company’s Insurers To Pay $2.75M To SPCE
Half of the $2.75M will be retained, with the remaining half paid to plaintiffs’ counsel for attorneys’ fees and costs. In accordance with the District Court’s order, all claims in these actions, and all other claims
Virgin Galactic settled a lawsuit where shareholders said leaders made mistakes, and insurance will pay $2.75 million to wrap it up. This is like finishing an argument—the company can now move forward without this legal worry hanging over it.
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