Securities

Insurance

Consumer

Antitrust

Securities

Other

Join the mailing list

New York – November 26, 2007 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/virginmobile/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Virgin Mobile USA, Inc. (“Virgin Mobile” or the "Company") (NYSE:VM) common stock pursuant and/or traceable to the Company’s initial public offering on or about October 12, 2007 through November 15, 2007, (the “Class Period”). This action concerns the initial public offering of Virgin Mobile common stock which took place on or about October 12, 2007 (the “IPO” or the “Offering”).

If you wish to serve as lead plaintiff, you must move the Court no later than January 22, 2008. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/virginmobile/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Virgin Mobile and certain of its officers and directors with violations of the Securities Act of 1933. Virgin Mobile provides wireless communications services, offering prepaid services to the youth market in the United States.

According to the complaint, on or about October 10, 2007, Virgin Mobile filed a Form S-1/A Registration Statement (the “Registration Statement”) with the Securities and Exchange Commission ("SEC") for the IPO. On or about October 11, 2007, the Prospectus (the “Prospectus”) with respect to the IPO, which forms part of the Registration Statement, became effective and, including the exercise of the over-allotment, more than 27.5 million shares of Virgin Mobile’s common stock were sold to the public for $15 per share, thereby raising more than $412 million. The complaint alleges that the Registration Statement and the Prospectus contained inaccurate statements of material fact because they failed to disclose that the Company would report a widening loss for the third quarter of 2007 and that subscriber growth trends were slowing dramatically.

On November 15, 2007, after the close of the market, Virgin Mobile issued a press release announcing its financial results for the third quarter of 2007, the period ending September 30, 2007. For the third quarter, the Company reported a loss of a loss of $7.3 million, or ($0.15) per share, as compared to a loss of only $5.1 million, or ($0.10) per share, in the same period the prior year.

As of November 26, 2007, Virgin Mobile stock was trading for approximately $8.22 per share.

Plaintiff seeks to recover damages on behalf of all purchasers of Virgin Mobile common stock during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 180-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston and Philadelphia, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Coughlin Stoia lawyers have been responsible for more than $45 billion in aggregate recoveries. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm. Contact: Coughlin Stoia Geller Rudman & Robbins LLP Samuel H. Rudman, 800-449-4900 David A. Rosenfeld djr@csgrr.com