LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against United Technologies Corporation (“United Technologies” or the “Company”) (NYSE: UTX) for violations of §10(b) and §20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder.
Investors who purchased the Company’s shares between April 21, 2015 and July 20, 2015 inclusive (the “Class Period”), are encouraged to contact the firm before July 11, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, United Technologies Corporation made materially false and/or misleading statements that kept the Company’s stock price trading at artificially inflated prices. United Technologies issued and reaffirmed unfounded, inflated earnings guidance, primarily based on the planning assumptions in two of the Company’s key business units: UTC Aerospace Systems (“UTAS”) and Otis Elevator Co. (“Otis”). United Technologies failed to disclose or indicate that its earnings forecast relied on planning assumptions for the UTAS and Otis units that were not fully scrutinized and were too aggressive. On July 21, 2015, the Company cut its 2015 earnings guidance, based on the weak performance of the UTAS and Otis units. Following this news, the Company’s stock price dropped sharply, which caused investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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