NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:

• Do you, or did you, own shares of RTX Corporation (NYSE: RTX)?
  
  
• Did you purchase your shares between February 8, 2021 and July 25, 2023, inclusive?
  
  
• Did you lose money in your investment in RTX Corporation?
  
  
• Do you want to discuss your rights?

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of RTX Corporation f/k/a Raytheon Technologies Corporation (“RTX” or the “Company”) (NYSE: RTX) between February 8, 2021 and July 25, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Connecticut and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased or acquired RTX securities, and/or would like to discuss your legal rights and options please visit RTX Corporation Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

According to the Complaint, RTX purports to be “an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide.” RTX has four principal business segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles and Defense.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Among other things, Defendants failed to disclose to investors that RTX’s geared turbofan (“GTF”) engines had been affected from at least 2015 by a quality control issue, which would require RTX to recall and reinspect many of its GTF airplanes, affecting customers and harming its business.

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, RTX’s share price fell $9.91 per share, or 10.2%, to close at $87.10 on July 25, 2023.

If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased or acquired RTX securities, and/or would like to discuss your legal rights and options please visit RTX Corporation Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com