GlobeNewswire Inc | May 14, 2021 09:05AM EDT

May 14, 2021

RADNOR, Pa., May 14, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Virgin Galactic Holdings, Inc. (Virgin Galactic) (NYSE: SPCE).

Virgin Galactic is a vertically integrated aerospace and space travel company that is developing commercial spacecraft and aims to provide suborbital spaceflights to space tourists.

On April 30, 2021, after trading hours, Virgin Galactic reported in a Current Report on a Form 8-K that, following its review of a recent statement issued by the U.S. Securities and Exchange Commission on April 12, 2021, and consulting with its advisors, it will restate its consolidated financial statements included in its Annual Report on a Form 10-K for the fiscal year ended December 31, 2020. The restatement is due to the accounting treatment for the warrants of Social Capital Hedosophia Holdings Corp. that were outstanding at the time of Virgin Galactics business combination on October 25, 2019.

Following this news, Virgin Galactics stock price fell from a close of $22.15 per share on April 30, 2021, to a close of $20.14 per share on May 3, 2021, the next trading day.

If you are a Virgin Galactic investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or please visitthe following linkto fill out our online form https://www.ktmc.com/virgin-galactic-holdings-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=virgin_galactic

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.Adrienne Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500info@ktmc.com