Excerpt:
The recent securities class action lawsuit filed against Virgin Galactic Holdings, Inc. would be fairly unremarkable but for one key fact: Virgin Galactic went public in 2019 after merging with Social Capital Hedosophia Holdings Corp., a special purpose acquisition company (“SPAC”). This lawsuit is already the fourteenth action involving a SPAC that the Clearinghouse has identified in the first five months of 2021. [...]