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United Technologies Corporation

Period: Apr 21, 2015 to Jul 20, 2015

Lead Plaintiff Deadline: Jul 11, 2017

Summary of Case:

A securities class action has been filed against United Technologies Corporation ("United Technologies" or the "Company") (NYSE:UTX) on behalf of all persons or entities who purchased or otherwise acquired the publicly traded securities of United Technologies between April 21, 2015 through July 20, 2015.  This case has been filed in the USDC - NY (Southern).

The Complaint alleges that during the Class Period, Defendants violated provisions of the Exchange Act by issuing and reaffirming unfounded and inflated earnings guidance, primarily based on the planning assumptions in two of the Company's key business units: UTC Aerospace Systems ("UTAS") and Otis Elevator Co. ("Otis").  Defendants' Class Period representations were materially false and misleading because Defendants failed to disclose or indicate that United Technologies' earnings forecast relied on planning assumptions for the UTAS and Otis units that were not fully scrutinized and were far too aggressive.

On July 21, 2015, the Company cut its 2015 earnings guidance on the basis of weak performance by the UTAS and Otis units.  In reaction to these revelations, UTX stock lost hundreds of millions of dollars in market capitalization, with the Company's stock price falling from a Class Period high of $119.14 per share on May 14, 2015, to close at $102.71 per share on July 21, 2015. 

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.

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