Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against RTC Corporation, formerly known as Raytheon Technologies Corporation (“RTX” or “the Company”) (NASDAQ: RTX) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired RTX securities from February 8, 2021 through July 25, 2023 (the “Class Period”). Investors who acquired RTX securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is October 2, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased RTX securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST RTX CORPORATION
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) the GTF engines had been affected from at least 2015-2020 by a quality control issue; (2) this quality control issue would require RTX to recall and reinspect many of its GTF engines, affecting customers and harming its business; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
ABOUT LIVE RTX CORPORATION
What does RTX Corporation do?
RTX, formerly known as Raytheon Corporation, is a major American defense and aerospace company. It’s known for its involvement in a wide range of defense and technology-related activities, including:
- Aerospace and Defense Systems: RTX is a leading producer of defense systems, including missiles, precision weapons, and advanced electronics used in various military applications.
- Missile Systems: The company is renowned for its development of advanced missile systems for air, land, sea, and space platforms. These systems encompass a variety of purposes, including air defense, anti-ship warfare, and precision strike capabilities.
- Cybersecurity and Intelligence: RTX provides cybersecurity solutions and intelligence services to government agencies and businesses, helping them protect against cyber threats and manage digital security risks.
- Radar and Sensing Systems: RTX specializes in the design and manufacturing of radar and sensing systems for various applications, such as air traffic control, weather monitoring, and defense purposes.
- Space and Satellite Systems: The company also works on space-related technologies, satellite systems, and components used in satellite communication and navigation systems.
- Communication and Information Systems: RTX develops advanced communication systems, networks, and information technologies that are used in both military and civilian contexts.
- Training and Simulation: The company offers training and simulation solutions for military personnel and other professionals, allowing them to practice and refine their skills in realistic environments.
- Air Traffic Management: RTX provides technologies and solutions for air traffic control and management systems, aiding in the safe and efficient movement of aircraft.
When did Raytheon Corporation become RTX Corporation?
- July 2023
- In an investor meeting, the company’s CEO Greg Hayes stated that RTX “is a nod to the past and a nod to the future. He noted United Technologies’ ticker symbol was UTX; Raytheon’s was RTN. Last summer, the conglomerate announced it would move its headquarters to Arlington, Virginia.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in RTX during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is October 2, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential class members in the class action lawsuit against RTX are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
ABOUT US
For more information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com. Atara is Principal at Twersky Law Group and of counsel at AF&T Law Firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries, listen to Atara ’s Pension and Investments Podcast with notable guests in the pension fund Industry that discusses various matters relating to investment portfolios. For more information on Atara and her legal work pertaining to shareholder protection click here.
