According to the Complaint, 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 May 2, 2024, the Court appointed the New England Teamsters Pension Fund, Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund, and United Union of Roofers, Waterproofers & Allied Workers Local Union No. 8 WBPA Fund as Lead Plaintiffs and Saxena White P.A. as Co-Lead Counsel.
On July 23, 2024, Lead Plaintiffs filed the amended complaint. Defendants’ response to the amended complaint is due by September 23, 2024.
