Archived Investigations
RTX Corporation f/k/a Raytheon Technologies Corporation (NYSE: RTX)
RTX and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s Geared Turbofan (GTF) engine that powers hundreds of aircraft across many airlines had been affected by a quality control issue from at least 2015-2020; (ii) the quality control issue would require the Company to recall and reinspect many of its GTF airplanes, affecting customers and harming its business; and (iii) as a result, RTX’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The case is Peneycad v. RTX Corporation f/k/a Raytheon Technologies Corporation, et al., 23-cv-01035.
A subsequent case was filed, New England Teamsters Pension Fund v. RTX Corporation, et al., 23-cv-01274.