Los Angeles, California--(Newsfile Corp. - July 25, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of RTX Corporation f/k/a Raytheon Technologies ("RTX" or "the Company") (NYSE: RTX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Investors Business Daily reported on July 25, 2023, that "Defense giant RTX (RTX), formerly Raytheon Technologies, topped expectations for its Q2 report early Tuesday. RTX stock tumbled following results as its Pratt & Whitney jet engine unit disclosed a defect." According to the article, "The company disclosed it discovered a manufacturing defect in its Pratt & Whitney unit from a rare condition in powered metal used to make certain engine parts, which will require 'accelerated fleet inspection.' The defect does not impact engines currently in production, but a 'significant portion' of the PW1100G-JM engine fleet will require removals and inspections in the next nine to 12 months. The PW1100G-JM engines power the A32neo commercial planes made by Airbus. RTX estimates roughly 200 accelerated removals will be required by mid-September this year." Based on this news, shares of RTX fell by more than 11% in intraday trading on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
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