Virgin Galactic Investors: KlaymanToskes Offers Stock Loss Recovery Options

Rhea-AI Summary

Investment loss attorneys KlaymanToskes are investigating losses over $100,000 in Virgin Galactic Holdings. They encourage investors with large positions in Virgin Galactic at Credit Suisse, Morgan Stanley, or Goldman Sachs to contact them for recovery options.

Positive

• Investors who sustained losses over $100,000 in Virgin Galactic Holdings are being offered recovery options by KlaymanToskes.
• Credit Suisse, Morgan Stanley, and Goldman Sachs were employed as 'Agents' to sell shares of Virgin Galactic and will also be agents of its $400 million subsequent stock offering.
• Between July 2021 and June 2023, Virgin Galactic's shares have fallen by 88%.
• Brokerage firms that failed to disclose risks associated with the SPAC and recommend risk management strategies may be held liable for investor losses.

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• None.

The Securities Law Firm of KlaymanToskes Offers Investors With Losses in Virgin Galactic Holdings Recovery Options

NEW YORK, NY / ACCESSWIRE / July 19, 2023 / National investment loss attorneys KlaymanToskes announces an investigation on behalf of investors who sustained losses over $100,000 in Virgin Galactic Holdings, Inc. (NYSE:SPCE). KlaymanToskes encourages investors who had large positions in Virgin Galactic at Credit Suisse, Morgan Stanley, Goldman Sachs, or any other brokerage firm to contact the firm immediately to discuss recovery options at 888-997-9956.

On October 25, 2019, Virgin Galactic completed its merger with Social Capital Hedosophia, a "Blank Check" or Special Purchase Acquisition Company ("SPAC"). SPACs are historically risky as they lack the earning history and proven management teams that accompany traditional Operating Company IPOs.

A July 11, 2021 SEC filing states that Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC were employed as "Agents" to sell shares of Virgin Galactic in exchange for compensation at a rate of up to 2.0% of the gross sales price per share. Last month, Virgin Galactic announced that the same brokerage firms will be Agents of its $400 million subsequent stock offering.

Between Virgin Galactic's first offering in July 2021, and its recent announcement in June 2023, its shares have fallen by 88%. As the SPAC's underwriter, Credit Suisse is responsible for conducting proper due diligence of the deal, giving them a heightened duty to disclose any potential risks to their clients.

Brokerage firms that failed to disclose the underlying risks associated with the SPAC, and/or that failed to recommend risk management strategies to customers with large, concentrated or margined positions in Virgin Galactic may be held liable for investor losses.

Investors that suffered losses in excess of $100,000 should immediately contact attorney Lawrence L. Klayman, Esq. for a free consultation at 888-997-9956 and download our SPAC Special Investor Report.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com

SOURCE: KlaymanToskes, P.A.

View source version on accesswire.com:
https://www.accesswire.com/769225/Virgin-Galactic-Investors-KlaymanToskes-Offers-Stock-Loss-Recovery-Options

FAQ

What is the investigation by KlaymanToskes about?

KlaymanToskes is investigating losses over $100,000 in Virgin Galactic Holdings.

Which brokerage firms were employed as 'Agents' to sell shares of Virgin Galactic?

Credit Suisse, Morgan Stanley, and Goldman Sachs were employed as 'Agents' to sell shares of Virgin Galactic.

How much have Virgin Galactic's shares fallen between July 2021 and June 2023?

Virgin Galactic's shares have fallen by 88% between July 2021 and June 2023.

Who may be held liable for investor losses?

Brokerage firms that failed to disclose risks associated with the SPAC and recommend risk management strategies may be held liable for investor losses.