Virgin Galactic Countersues Boeing, Alleging 'Shoddy Work' [Yahoo! Finance]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Yahoo! Finance
Now, Virgin has returned fire. The company last week countersued Boeing and Aurora, accusing the struggling aerospace company of “shoddy and incomplete work.” According to Reuters , Virgin Galactic said Boeing is breaching its contract and attempting to unlawfully force the return of intellectual property. Virgin Galactic is seeking damages totaling $45 million, an amount it said it had already shelled out to Aurora for help in developing its next-generation Mothership, which is the large jet that carries Virgin's ship to the edge of space. The company claimed the amount it paid was “substantially in excess of the actual value of Boeing's performance.” Most Read on IEN: Quaker to Shutter Illinois Plant, Lay Off More than 500 Podcast: NCAA Court Problems, Meat 'Temp Abuse,' Key Bridge Collapse How Globemaking Has Survived Digital Shift Tesla Settles Lawsuit Over Man's Death in Crash Involving Semi-Autonomous Driving Software In a statement obtained by Reuters, Boeing bl
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SPCE
News
- ‘Galactic 07' Mission Launch Window Opens June 8 [Yahoo! Finance]Yahoo! Finance
- ‘Galactic 07’ Mission Launch Window Opens June 8Business Wire
- Virgin Galactic (SPCE) Stock Sinks As Market Gains: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Why Investors Had a Meltdown Over Virgin Galactic's Reverse Split News [Yahoo! Finance]Yahoo! Finance
- Virgin Galactic (SPCE) Suffers a Larger Drop Than the General Market: Key Insights [Yahoo! Finance]Yahoo! Finance
SPCE
Earnings
- 2/27/24 - Beat
SPCE
Sec Filings
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form ARS
- 4/29/24 - Form DEF
- SPCE's page on the SEC website