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RTX.US
id: 796
RTX Corporation (RTX) Quality Control Case
The defendant has requested the court to dismiss the case.
D. Connecticut
Court3:23-cv-01035
Case number02/08/2021
Class period Start07/25/2023
Class period End10/02/2023
Lead Plaintiff motion deadline- Reuters released an article about RTX over Pratt & Whitney airliner engine problem.
- $RTX fell 10.2%, losing $14.4 billion of its market cap.
- Investors suspect RTX failed to disclose GTF engines had been affected by quality control issues, affecting customers and harming its business.
On July 25, 2023, Reuters released an article entitled “RTX shares tumble on Pratt & Whitney airliner engine problem.”
On this news, $RTX fell 10.2%, losing $14.4 billion of its market cap.
Investors have reasons to suspect RTX & Accountables of negligence and failing to disclose GTF engines had been affected by quality control issues, and would require RTX to recall & reinspect many of its GTF engines, affecting customers and harming its business.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07/25/2023
Filing date
08/03/2023
Lead Plaintiff Deadline
10/02/2023
Judge
Hon. Jeffrey A. Meyer