Try using MLK's name commerically, and see how fast you draw a lawsuit.
The technical ground for the suit would fall under invasion of privacy.
There's an article that might be useful to lay folks here: http://www.citmedialaw.org/legal-guide/using-name-or-likeness-another
Invasion of privacy? That is stretching it.
The reflex reaction of wanting to sue everyone seems to not be limited to those who spill hot coffee in their lap.
A total waste of time and money. The lawsuit should be thrown out as frivolous and Chuck should be billed for the cost to the court and Virgin's legal representation.
Fortunately, the law does not give individuals the right to stop all mention, discussion, or reporting on their lives or activities. The common law of most states creates an exception to liability for news reporting and commentary on matters of public interest, and many state statutes explicitly exempt news reporting and other expressive activities from liability.
Yeager's name was casually mentioned in a press release (not an advertisement.) It made reference to his newsworthy accomplishments and made no suggestion of an endorsement for this product.
He's an alltime great American, but he has no case here.