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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
Court
3:23-cv-01035
Case number
02/08/2021
Class period Start
07/25/2023
Class period End
10/02/2023
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

Raytheon Technologies Corp

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through...

    Ticker
    RTX.US
    ISIN
    US75513E1010
    CIK
    0000101829
    Sector
    Industrials
    Industry
    Aerospace & Defense
    Country
    USA
    Address
    1000 Wilson Boulevard, Arlington, VA, United States, 22209