Class Action Lawsuit Filed Against Virgin Galactic Alleging Securities Fraud

Michael Colglazier (Credit: Virgin Galactic)

by Douglas Messier
Managing Editor

A class action lawsuit was filed in New York on Dec. 7 alleging securities fraud by Virgin Galactic, which went public on the New York Stock Exchange (NYSE) in October 2019 after merging with Chamath Palihapitiya’s Social Capital Hedosophia (SCH).

Named in the lawsuit are Virgin Galactic Holdings, CEO Michael Colglazier, former CEO George Whitesides, former current chief financial officer Doug Ahrens, and former chief financial officer Jon Compagna.

The lawsuit was filed amid years-long delays in the start of commercial human suborbital flights that have caused a sharp decline in the value of the stock. Virgin Galactic began trading on the New York Stock Exchange at an opening price of $12.34 on Oct. 28, 2019. The stock is now trading at $14.46 having previously soared to a high of $62.80.

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Capella Space Accelerates 2021 Growth with New Chief Financial Officer and Expanded Leadership Team

Former executives from Virgin Galactic, Maxar, and Bank of America bring decades of industry and operational expertise as Capella Space rapidly delivers higher volumes of data from space.

SAN FRANCISCO, April 14, 2021 (Capella Space PR) — Capella Space, an information services company that provides high-quality, high-speed Earth observation data on demand, today announced several new members of its leadership team as the company continues to grow its satellite constellation and expand service offerings. Jon Campagna joins the team as the company’s first CFO, Julie Ambory as the VP of people, and Nate Ricklin as the VP of product engineering.

Campagna, Ambory, and Ricklin join a growing team of industry veterans and experienced leaders supporting Capella’s mission to provide high-resolution, high-quality SAR imagery on demand. With decades of experience, they join the rest of the leadership team to deliver greater value to customers and will help guide Capella Space into a new chapter of growth.

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