Virgin Galactic's rocket-powered plane Unity is displayed in the tarmac after a short flight to the edge of space at Spaceport America, near Truth or Consequences, N.M., Thursday, Aug. 10, 2023. Virgin Galactic is taking its first space tourists on a long-delayed rocket ship ride. Photo: Andrés Leighton/AP Investor Claims Virgin Galactic Put Billionaire Space Race Over Safety, Netting Branson $1B
The lawsuit alleges that Branson made over $1.1 billion by selling Virgin Galactic shares at a price artificially inflated by safety issues not being publicly known.
September 04, 2024 at 05:43 PM
3 minute read
Corporate Governance
The original version of this story was published on Delaware Business Court Insider
A Virgin Galactic Holdings Inc. shareholder has claimed in the Court of Chancery that founder Richard Branson and the company's board breached their fiduciary duties by failing to prioritize and keep investors informed about safety issues on space flights.
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