Raytheon Technologies Corporation
Lead Plaintiff Deadline: 12/29/2020
SUMMARY OF CASE:
A securities class action has been filed against Raytheon Technologies Corporation (RTX) on behalf of persons or entities who purchased or otherwise acquired publicly traded Raytheon securities between February 10, 2016 through October 27, 2020. This case has been filed in the USDC – AZ.
The Complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Raytheon had inadequate disclosure controls and procedures and internal control over financial reporting; (2) Raytheon had faulty financial accounting; (3) as a result, Raytheon misreported its costs regarding Raytheon’s Missiles & Defense business since 2009; (4) as a result of the foregoing, Raytheon was at risk of increased scrutiny from the government; (5) as a result of the foregoing, Raytheon would face a criminal investigation by the U.S. Department of Justice (“DOJ”); and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.