A lawsuit was filed on behalf of investors in RTX Corporation (NYSE:RTX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/15/2023 -- An investor, who purchased shares of RTX Corporation (NYSE: RTX), filed a lawsuit over alleged violations of Federal Securities Laws by RTX Corporation f/k/a Raytheon Technologies Corporation.
Investors who purchased shares of RTX Corporation (NYSE: RTX) have certain options and for certain investors are short and strict deadlines running. Deadline: October 2, 2023. NYSE: RTX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Waltham, MA based Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. One of RTX's four principal business segments, Pratt & Whitney, produces the PW1000G Geared Turbofan ("GTF") engine family.
On July 25, 2023, Reuters released an article entitled "RTX shares tumble on Pratt & Whitney airliner engine problem," which reported that "more than 1,000 [GTF] engines must [be] removed from Airbus planes and checked for microscopic cracks." Reuters further reported that "RTX said it was reducing its 2023 cash-flow forecast by $500 million to $4.3 billion due to the inspections."
Shares of RTX Corporation (NYSE: RTX) declined from $104.91 per share on April 19, 2023, to $81.35 per share on July 25, 2023.
The plaintiff claims that between February 8, 2021 and July 25, 2023, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that the GTF engines had been affected from at least 2015-2020 by a quality control issue, that this quality control issue would require RTX to recall and reinspect many of its GTF engines, affecting customers and harming its business, and that 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
Those who purchased shares of RTX Corporation (NYSE: RTX) have certain options and should contact the Shareholders Foundation.
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