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Lawsuit filed for Investors in shares of Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN)

11-04-2020 05:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN) shares.

A lawsuit was filed on behalf of investors in Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN) shares.

An investor, who purchased shares of Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN), filed a lawsuit over alleged violations of Federal Securities Laws by Raytheon Technologies Corporation, f/k/a Raytheon Company.

Investors who purchased shares of Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN) have certain options and for certain investors are short and strict deadlines running. Deadline: December 29, 2020. NYSE: RTX, NYSE: RTN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 27, 2020, Raytheon Technologies Corporation announced that “[o]n October 8, 2020, the Company received a criminal subpoena from the DOJ [U.S. Department of Justice] seeking information and documents in connection with an investigation relating to financial accounting, internal controls over financial reporting, and cost reporting regarding Raytheon Company's Missiles & Defense business since 2009[,]” in the Company’s quarterly report on Form 10-Q filed with the SEC. Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN ) declined from $63.79 per share on October 23, 2020 to as low as $51.92 per share on October 29, 2020.

The plaintiff claims that between February 10, 2016 and October 27, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Raytheon Technologies had inadequate disclosure controls and procedures and internal control over financial reporting, that Raytheon Technologies had faulty financial accounting, that as a result, Raytheon misreported its costs regarding Raytheon’s Missiles & Defense business since 2009, that as a result of the foregoing, Raytheon was at risk of increased scrutiny from the government, that as a result of the foregoing, Raytheon would face a criminal investigation by the U.S. Department of Justice (“DOJ”), and that 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.

Those who purchased shares of Raytheon Technologies Corporation (NYSE: RTX, NYSE: RTN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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