Virgin Galactic Holdings (NYSE:SPCE) shares climbed in Thursday’s extended trading after the company announced a federal court granted preliminary approval of a settlement resolving two longstanding shareholder derivative lawsuits.
SPCE stock is climbing. See the chart and price action here.
Legal Details
The U.S. District Court for the Eastern District of New York signed off on the proposed deal on May 19, 2026 — nearly four years after the cases were first filed in 2022.
Under the terms, Virgin Galactic’s insurers will make a $2.75 million payment to the company, half of which the company will keep.
