Virgin Galactic is sued by Boeing for using trade secrets [Seeking Alpha]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Seeking Alpha
block further use of its trade secrets and proprietary data after the companies stopped working together on a space tourism project last year. Virgin Galactic ( SPCE ) had engaged Boeing's ( BA ) Aurora Flight Sciences unit to help develop a so-called Mothership jet carrier. Of note, Aurora Flight Sciences has not performed any work for Virgin Galactic ( SPCE ) since May 2023. Virgin Galactic ( SPCE ) is accused by Boeing ( BA ) of refusing to honor its contractual promise to destroy two sets of trade secrets, according to the complaint filed in federal court in eastern Virginia. The complaint stated that Virgin Galactic's ongoing retention and use of the information to develop its new jet carrier deprives Boeing and Aurora of their "exclusive property rights and imposes irreparable harm" by risking exposure to other competitors, after which the information cannot retain its secret status. In response, Virgin Galactic ( SPCE ) said it believes the lawsuit is wrong on the facts and
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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