New York, New York--(Newsfile Corp. - September 15, 2023) - Pomerantz LLP is investigating claims on behalf of investors of RTX Corporation f/k/a Raytheon Technologies Corporation ("RTX" or the "Company") (NYSE: RTX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether RTX and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 25, 2023, RTX issued a press release announcing an update on the aircraft fleet of its Pratt & Whitney subsidiary. Raytheon stated that "Pratt & Whitney has determined that a rare condition in powdered metal used to manufacture certain engine parts will require accelerated fleet inspection. This does not impact engines currently being produced. As a result, the business anticipates that a significant portion of the PW1100G-JM engine fleet, which powers the A320neo, will require accelerated removals and inspections within the next nine to twelve months, including approximately 200 accelerated removals by mid-September of this year."
On this news, Raytheon's stock price fell $9.91 per share, or 10.22%, to close at $87.10 per share on July 25, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180798
