Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Raytheon Technologies Corporation from February 10, 2016 through October 27, 2020 (the “Class Period”). The lawsuit filed in the United States District Court for the District of Arizona alleges violations of the Securities Exchange Act of 1934.
If you purchased Raytheon securities, and/or would like to discuss your legal rights and options please visit Raytheon Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that throughout the Class Period, defendants 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 (“DOJ”); and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
On October 27, 2020, after market hours, Raytheon filed its quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2020, (the “3Q20 Report”). The 3Q Report announced the DOJ Investigation.
On this news, the price of Raytheon shares fell $4.19 per share, or 7% to close at $52.34 per share on October 28, 2020, on unusually heavy trading volume.
If you purchased Raytheon securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/raytheontechnologiescorporation-rtx-shareholder-class-action-lawsuit-stock-fraud-330/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than December 29, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
Matthew E. Guarnero
Bernstein Liebhard LLP