RTTNews | Jun 30, 2021 11:03AM EDT

11:02 Wednesday, June 30, 2021 (RTTNews.com) - Virgin Galactic Holdings, Inc (SPCE) is down 7% in during the early trading in the Street on Wednesday. The fall can be attributed to lawsuits lodged against the company by leading law firms about misleading statements to inflate the stock prices.

The lawsuits claimed that the company have made false claims to boost its market propositions. The warrants of Social Capital Hedosophia Holdings Corp.'s were to be treated as liabilities whereas the company has treated them as equities.

After opening at $44.42 in the morning, the shares are currently dealing at $43.83, down $3.19 or 6.78% since their last close at $47.02. In the 52-week period, the shares have traded between $14.27 and $62.80.

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