SAN FRANCISCO, CA / ACCESSWIRE / July 28, 2023 / Hagens Berman urges RTX Corporation f/k/a Raytheon Technologies Corporation (NYSE:RTX) investors who suffered substantial losses to submit your losses now. The Firm also encourages persons with knowledge that might assist the investigation to contact its attorneys.
Visit: www.hbsslaw.com/investor-fraud/rtx
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RTX Corporation (RTX) Investigation:
The investigation focuses on RTX's disclosures about its manufacturing quality controls.
More specifically, on July 25, 2023 RTX reported its Q2 2023 financial results, reduced its 2023 free cash flow guidance by about $500 million (or about 10%), and blamed this on "recent" findings of contamination in the metal used to make its Pratt & Whitney engine parts that would require potentially hundreds of accelerated engine inspections. During the earnings call, management revealed "[i]t's going to be expensive" and "[t]his is an issue that we first uncovered back in 2020 when we had an incident with the V2500 turbine disc."
This news sent the price of RTX shares sharply lower that day.
"We're focused on investors' losses and whether RTX misled investors about its manufacturing quality controls and, recently, its claim to have remediated the contamination issue in 2021," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in RTX Corporation and have substantial losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding RTX Corporation should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
CONTACT:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP