RTX Corporation (f/k/a Raytheon Technologies Corporation)
A securities class action has been filed in the USDC – CT. against RTX Corporation (RTX) (f/k/a Raytheon Technologies Corporation) (“RTX”, “Raytheon”, or the “Company”) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired RTX securities between February 8, 2021 through July 25, 2023, both dates inclusive (the “Class Period”).
Defendant RTX purports to be “an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide.” RTX has four principal business segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles and Defense. Pertinent to this action is Pratt & Whitney.
The Complaint alleges that the Defendants made statements that were materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
- the GTF engines had been affected from at least 2015-2020 by a quality control issue;
- this quality control issue would require RTX to recall and reinspect many of its GTF airplanes, affecting customers and harming its business; and
- as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times, thereby harming investors.
If you purchased RTX securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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