Virgin Galactic got final court approval for a settlement resolving derivative shareholder litigation that said its leaders had concealed spaceship safety problems.

A New York federal judge granted preliminary approval back in May for the deal finalized last Friday, which ties up claims filed in 2022 against the spaceflight company's officers.

Investors had alleged that executives concealed structural damage to spaceship stabilizers discovered during a 2019 test flight. The suit also claimed that executives covered up an airspace deviation from a highly-publicized 2021 suborbital spaceflight, which caused the Federal Aviation Administration to temporarily ground flights and suspend Virgin Galactic's license.

Virgin Galactic's insurers will pay the company $2.75 million, half of which it will retain and half of which will be used to pay the plaintiffs' counsel for attorneys' fees and costs, according to the agreement.

The settlement included no finding of wrongdoing by the company or any of its directors, Virgin Galactic said.

Virgin Galactic's current and former officers and directors, who were the defendants in the case, previously denied all the allegations against them.