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Virgin Galactic Stock Lifts Off After-Hours — Here's Why

Benzinga·
Virgin Galactic Stock Lifts Off After-Hours — Here's Why

Virgin Galactic (SPCE) shares surged 19.53% on Thursday and an additional 14.57% after-hours following a federal court's preliminary approval of a settlement resolving two shareholder derivative lawsuits filed in 2022. Under the settlement terms, Virgin Galactic's insurers will pay $2.75 million, with the company retaining half. The legal clarity lifted a litigation overhang that had weighed on the stock.

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