SAN FRANCISCO, CA – (August 28, 2023) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in RTX Corporation f/k/a Raytheon Technologies Corporation (“RTX” or the “Company”) who suffered losses from purchasing or otherwise acquiring RTX securities (NYSE: RTX) between February 8, 2021 and July 25, 2023 to contact us immediately regarding a pending securities fraud class action against RTX. The deadline to apply to be lead plaintiff is October 2, 2023.
Class Period: February 8, 2021 – July 25, 2023
Lead Plaintiff Motion Deadline: October 2, 2023
Case information: lieffcabraser.com/securities/rtx
Contact us: Email or text firstname.lastname@example.org or call 1-800-541-7358
RTX is an aerospace and defense company which owns Pratt & Whitney, a producer of aircraft engines, including the PW1000G Turbofan (“GTF”) engine family.
The action alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (a) the GTF engine family experienced a quality control issue from 2015-2020; and (b) this issue would result in recalls and reinspections of many airplanes equipped with GTF engines.
On July 25, 2023, RTX issued a press release stating that Pratt & Whitney discovered a condition in the powdered metal used to manufacture GTF engines, which will require accelerated removals and inspections of the engine family. On this news, RTX’s share price fell $9.91 per share, or 10.2% from the previous closing price of $97.01 on July 24, 2023, to close at $87.10 per share on July 25, 2023 on elevated trading volume.
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