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November 12, 2022

Class Action Against Virgin Galactic to Continue

Judge Dismisses Majority of Claims but Allows Case to Move Forward

A US judge has given the go-ahead for Kusnier v. Virgin Galactic to continue. The case is a proposed class action lawsuit asserting that founder Richard Branson concealed problems in the Unity development program whilst selling overpriced stock to new investors. Most of the claims in the lawsuit were dismissed by District Judge Allyne Ross, and shareholders would have to prove that Virgin and Branson actually defrauded them into paying too much for a stock that has continued to fall since its early 2021 peak.

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