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✓ VerifiedA federal court on August 14, 2026 granted final approval of the settlement of Virgin Galactic's consolidated shareholder derivative lawsuits, with insurers paying $2.75 million to the company and no finding of wrongdoing.
Filed Aug 18, 2026 · 09:05 ET
Summary
- On August 14, 2026, the U.S. District Court for the Eastern District of New York granted final approval of the settlement resolving the consolidated derivative actions In re Virgin Galactic Holdings, Inc. Derivative Litigation, Case No. 1:22-cv-00933, and St. Jean v. Branson et al., Case No. 1:22-cv-7551.
- The Company's insurers will pay $2.75 million to Virgin Galactic, half of which the Company will retain, with the remaining half paid to plaintiffs' counsel for attorneys' fees and costs.
- All claims in these actions, and all other claims related to or based upon the allegations, have been fully released.
- There was no finding of wrongdoing by the Company or any of its directors or officers.
- Virgin Galactic issued the press release announcing the approval on August 18, 2026.
Key facts
- Final approval date
- August 14, 2026
From the filing for Final approval date
“on August 14, 2026, the U.S. District Court for the Eastern District of New York (the "District Court") issued an order granting final approval of the settlement”
- Settlement payment
- $2.75 million
From the filing for Settlement payment
“the Company's insurers will pay $2.75 million to Virgin Galactic, half of which the Company will retain”
- Company share
- half of which the Company will retain
From the filing for Company share
“half of which the Company will retain, with the remaining half paid to plaintiffs' counsel for attorneys' fees and costs”
- Wrongdoing finding
- no finding of wrongdoing
From the filing for Wrongdoing finding
“there was no finding of wrongdoing by the Company or any of its directors or officers”
- Consolidated case
- Case No. 1:22-cv-00933
From the filing for Consolidated case
“In re Virgin Galactic Holdings, Inc. Derivative Litigation, Case No. 1:22-cv-00933 (E.D.N.Y.)”
- Related case
- St. Jean v. Branson et al.
From the filing for Related case
“St. Jean v. Branson et al., Case No. 1:22- cv-7551 (E.D.N.Y.)”
Why it mattersThe settlement resolves the shareholder derivative litigation against Virgin Galactic and its directors and officers, with insurers covering the payment and all related claims released.
- Filed
- Aug 18, 2026
- Accepted
- 2026-08-18 13:05Z
- Period
- Aug 18, 2026
- Accession no.
- 0001706946-26-000130
- Size
- 454 KB
- Index
- Filing index