Trending...
- Maybesoon Drops New Music Video for "Hill Street."
- Neurocrine Biosciences to Host Analyst Day on December 5, 2023
- ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Arbor Realty Trust, Inc. Investors to Inquire About Securities Class Action Investigation – ABR
NEW YORK, Sept. 27, 2023 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against RTX Corporation ("RTX" or the "Company") (NYSE: RTX) and reminds investors of the October 2, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in RTX stock or options between February 8, 2021 and July 25, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/RTX.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
More on Nyenta.com
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) the GTF engines had been affected from at least 2015-2020 by a quality control issue; (2) this quality control issue would require RTX to recall and reinspect many of its GTF engines, affecting customers and harming its business; and (3) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On July 25, 2023, RTX issued a press release announcing an update on its Pratt & Whitney fleet. The Company stated "Pratt & Whitney has determined that a rare condition in powdered metal used to manufacture certain engine parts will require accelerated fleet inspection. This does not impact engines currently being produced. As a result, the business anticipates that a significant portion of the PW1100G-JM engine fleet, which powers the A320neo, will require accelerated removals and inspections within the next nine to twelve months, including approximately 200 accelerated removals by mid-September of this year."
More on Nyenta.com
On this news, the price of RTX's stock fell by $9.19 per share, or 10.22%, to close at $87.10 on July 25, 2023.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding RTX's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
If you suffered losses exceeding $100,000 investing in RTX stock or options between February 8, 2021 and July 25, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/RTX.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
More on Nyenta.com
- Bit Digital, Inc. Announces Monthly Production Update for November 2023
- Morgan Stanley China A Share Fund, Inc. Declares a Dividend
- Barker, Pasha and Vokac receive prestigious 54th annual USS Admiral of the Ocean Sea Awards
- New Rochelle: Free 2 Hour Holiday Parking December 1-31
- New Rochelle: Opportunity Youth Part Initiative (OYP) 3rd Anniversary Celebration
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) the GTF engines had been affected from at least 2015-2020 by a quality control issue; (2) this quality control issue would require RTX to recall and reinspect many of its GTF engines, affecting customers and harming its business; and (3) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On July 25, 2023, RTX issued a press release announcing an update on its Pratt & Whitney fleet. The Company stated "Pratt & Whitney has determined that a rare condition in powdered metal used to manufacture certain engine parts will require accelerated fleet inspection. This does not impact engines currently being produced. As a result, the business anticipates that a significant portion of the PW1100G-JM engine fleet, which powers the A320neo, will require accelerated removals and inspections within the next nine to twelve months, including approximately 200 accelerated removals by mid-September of this year."
More on Nyenta.com
- Unlocking the Magic of Miami Beach
- Introducing Scuba Diving Industry Magazine
- JEGI CLARITY Has Advised Hal Leonard On Its Merger With Muse Group, With Investment From Francisco Partners
- Celebrate the Season with COMFORT & JOY: Glam Rock Soul Christmas Concert by Victor & Aisha Jackson
- Financial Literacy Advocate Jim Silbernagel Selected to Appear on Spotlight Television
On this news, the price of RTX's stock fell by $9.19 per share, or 10.22%, to close at $87.10 on July 25, 2023.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding RTX's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Pritchard Industries Acquires ACP Facility Services
- KBRA Named Ratings Agency Of The Year at Second Annual SFR Industry Awards
- Coming Up On Fox Business Financial Industry Legend Tom Hegna
- The Museum at FIT Presents Statement Sleeves
- TVA Media Group Joins Powerhouse Agency Network Unite Digital
- KBRA Assigns Preliminary Ratings to MSWF 2023-2
- India Fest 2024 on Jan 27, 2024 at KY Expo Center
- Tune In to Fox Business for an Interview with Short-Term Rental Expert Leslie Anne Morris
- Doug Gillespie Appointed CEO of Beauty By Imagination, Inc.
- Fourth Edition of 'Women's International Champions Cup Best XI Presented by Ally' Team Announced
- Jodee Singz releases new single "Jijem" to all major platforms
- iOT365 Launches Pioneering SaaS Solution for Operational Technology Security
- Genuine Hospitality, LLC Adds the Hampton Inn - Columbia, MO to Growing Portfolio
- OneKey® MLS Board of Managers Welcomes Tom Hurdelbrink, Veteran Real Estate Industry Leader
- REA 'Peace of Mind on the Move' Study achieves Highly Commended recognition in the category Excellence in Coaching by ABP November 2023
- Revolutionizing FEC Chain Stores with Our Cutting-Edge Ordering& Warehousing System
- QuBind.com Makes Major Strides in T-Cell Immunotherapy with Revolutionary AI Innovation
- SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Illumina, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 9, 2024 - (NASDAQ: ILMN)
- Media Personality Cyrus Webb celebrates 20 years and over 12,000 guests on Conversations LIVE radio show
- COMERICA ALERT: Bragar Eagel & Squire, P.C. is Investigating Comerica Incorporated on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm