SAN FRANCISCO, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges Raytheon Technologies Corporation (NYSE: RTX) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.
Class Period: Feb. 10, 2016 – Oct. 27, 2020
Lead Plaintiff Deadline: Dec. 29, 2020
Visit: www.hbsslaw.com/investor-fraud/RTX
Contact An Attorney Now: securities@hbsslaw.com
844-916-0895
Raytheon Technologies (RTX) Securities Fraud Class Action:
The lawsuit challenges the accuracy of Raytheon’s financial statements pertaining to its missile defense business and compliance with applicable accounting rules and criminal laws.
Specifically, the complaint alleges that Defendants misled investors about Raytheon’s disclosure and financial reporting controls over the company’s core missiles and defense business segment. According to the complaint, as a result of Raytheon’s faulty financial accounting, the company misreported the segment’s costs since 2009. This in turn exposed Raytheon to increased scrutiny from regulators, including potential criminal liability.
Investors allegedly began to learn the truth after the markets closed on Oct. 27, 2020, when Raytheon announced it received a criminal subpoena from the U.S. Department of Justice. The company disclosed the DOJ seeks information and documents relating to financial accounting, internal controls over financial reporting, and cost reporting by the missiles and defense business segment.
This news drove the price of Raytheon shares sharply lower.
“We’re focused on investors’ losses and proving Raytheon intentionally misrepresented its financial results over the last several years,” said Hagens Berman partner Reed Kathrein.
If you are a Raytheon investor and have significant losses, or have knowledge that may assist the firm’s investigation and prosecution of this matter, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Raytheon 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 securities@hbsslaw.com.
About Hagens Berman
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Contact:
Reed Kathrein, 844-916-0895