Virgin Galactic Fires Back at Boeing Over Failed Mothership Deal [BNN Bloomberg (Canada)]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: BNN Bloomberg
Two weeks after Boeing took Richard Branson's company to court in Virginia, Virgin Galactic fired back Thursday with a complaint in Los Angeles, saying that “poor quality control and mismanagement” at the plane maker was what sank the joint effort to develop a so-called Mothership jet carrier. Virgin Galactic's suit adds to the mounting allegations of mismanagement and shoddy work at Boeing, which recently announced that Chief Executive Officer Dave Calhoun would be stepping down at the end of the year. Virgin Galactic hired Boeing in 2022 to help design several aspects of its Mothership program, including avionics, design, flight physics, propulsion and stress engineering. The companies stopped working together a year later. Virgin Galactic was accused in the original suit of illegally continuing to use trade secrets that Boeing's Aurora Flight Sciences unit had shared with it. Read More: Boeing Asks Court to Block Virgin Galactic From Using Its Data In the new suit, Virgi
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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