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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Raytheon Technologies Corporation (NYSE: RTX) who purchased shares between February 10, 2016 and October 27, 2020. The action, which was filed in the United States District Court for the District of Arizona, alleges that the Company violated federal securities laws.
In particular, the Raytheon lawsuit alleges that (1) Raytheon had inadequate disclosure controls and procedures and inadequate internal control over financial reporting; (2) Raytheon had faulty financial accounting; (3) as a result, Raytheon misreported its costs regarding Raytheon Company’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; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Shareholders have until December 29, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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