On or around 10/30/2020 (Date of last review)
Filing Date: October 30, 2020
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.
Company & Securities Information
Defendant: Raytheon Technologies Corporation
Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States
Ticker Symbol: RTX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Pranay K Bajjuri, et al. v. Raytheon Technologies Corporation, et al.