Boeing Sues Virgin Galactic Over Stalled Mothership Work [Yahoo! Finance]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Yahoo! Finance
According to Space News , Boeing and its subsidiary Aurora Flight Sciences have filed suit against Virgin Galactic, Richard Branson's commercial spacecraft company. The suit alleges that Virgin Galactic refused to pay more than $26 million in invoices and won't destroy proprietary information provided by Aurora. Most Read on IEN: GM Reimbursing Buyers Who Overpaid for New Blazer EV Boom's Supersonic Jet Flies for the First Time Podcast: World's Largest Plane; Ford Trade Fraud; Unilever Cuts 7,500 Lucid Motor Must Change Illegal Severance Agreements The dispute connects back to a 2022 agreement for the Boeing subsidiary to handle manufacturing duties for a new Mothership, which is the high-altitude aircraft designed to carry Virgin Galactic's shuttle close to the edge of space. According to the report, Aurora only got through two task orders before ending work on the contract in 2023. The company concluded it would be impossible to build the new Mothership that Virgin Gala
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SPCE
News
- Virgin Galactic (SPCE) Suffers a Larger Drop Than the General Market: Key Insights [Yahoo! Finance]Yahoo! Finance
- Virgin Galactic Announces Date of First Quarter 2024 Financial Results and Conference CallBusiness Wire
- Why Virgin Galactic Stock Just Crashed 16.5% [Yahoo! Finance]Yahoo! Finance
- Virgin Galactic Eyes Reverse Stock Split in Bid to Stay on NYSE [BNN Bloomberg (Canada)]BNN Bloomberg
- Dark Space is building a rocket-powered boxing glove to push debris out of orbit [TechCrunch]TechCrunch
SPCE
Earnings
- 2/27/24 - Beat
SPCE
Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 4
- 4/19/24 - Form 4
- SPCE's page on the SEC website