Virgin Galactic countersues Boeing for "shoddy" work on new ‘mothership' [Reuters]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Reuters
tourism "mothership" and accused the manufacturer, which is struggling with regulatory concerns about quality and safety, of "shoddy and incomplete work." California-based Virgin Galactic, founded by billionaire Richard Branson, on Thursday accused Boeing and its Aurora Flight Services of breaching its contractual obligations and also of unlawfully trying to force the return of intellectual property. The lawsuit , opens new tab was filed in Los Angeles federal court. Virgin Galactic said it was entitled to damages derived from the $45 million that it had already paid to develop the next-generation craft. The lawsuit said the amount was “substantially in excess of the actual value of Boeing's performance.” Virgin Galactic declined to comment. Boeing in a statement on Friday called Virgin Galactic's claims "without merit" and said "we intend to vigorously defend our intellectual property and the work performed." Virgin Galactic offers tourists a chance to fly into space aboard
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News
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- ‘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