According to the Complaint, Raytheon Technologies Corporation purports to be an aerospace and defense company providing advanced systems and services for commercial, military, and government customers worldwide. On April 3, 2020, United Technologies Corporation and Raytheon Company completed a merger and changed the Company’s name to “Raytheon Technologies Corporation” and its common stock symbol to “RTX.” Before the merger in April 2020, Raytheon Company stock traded under the ticker symbol “RTN.”

The Complaint alleges that 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; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On July 27, 2021, the Court issued an Order consolidating cases and appointing interim Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 20-CV-00468.

Lead Plaintiff filed a consolidated Complaint on September 27, 2021. On November 17, the Court issued an Order appointing Lead Plaintiff and Counsel.

Defendants filed a Motion to Dismiss the consolidated Complaint on March 21, 2022. On November 18, the Court issued an Order granting Defendants' Motion to dismiss. Plaintiff was given leave to amend the Complaint.

On December 19, 2022, Lead Plaintiff filed a second consolidated Complaint. Defendants filed a Motion to Dismiss the second consolidated Complaint on January 19, 2023. On May 25, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.