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RTX Corporation

Corporate Governance / Derivative

  • Date:
  • 11/2/2023
  • Company Name:
  • RTX Corporation
  • Stock Symbol:
  • RTX
  • Class Period:
  • FROM 2/8/2021 TO 7/25/2023
  • Status:
  • Filed
  • Filing Date:
  • 8/3/2023
  • Court:
  • U.S. District Court: Connecticut

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against RTX Corporation (NYSE: RTX) on behalf of long-term stockholders following a class action complaint that was filed against RTX on August 3, 2023 with a Class Period from February 8, 2021 to July 25, 2023. Our investigation concerns whether the board of directors of RTX have breached their fiduciary duties to the company.

On July 25, 2023, Reuters released an article entitled “RTX shares tumble on Pratt & Whitney airliner engine problem,” which reported that “more than 1,000 [GTF] engines must [be] removed from Airbus planes and checked for microscopic cracks.” Reuters further reported that “RTX said it was reducing its 2023 cash-flow forecast by $500 million to $4.3 billion due to the inspections.”
 
On this news, the price of RTX shares declined by more than 10%, damaging investors.
 
The RTX class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) the GTF engines had been affected from at least 2015-2020 by a quality control issue; and (ii) this quality control issue would require RTX to recall and reinspect many of its GTF airplanes, affecting customers and harming its business.

If you are a long-term stockholder of RTX, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out the form below. There is no cost or obligation to you.

The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in RTX Corporation. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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