BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased United Technologies Corporation (“United Technologies” or the “Company”) (NYSE: UTX) securities between April 21, 2015 and July 20, 2015, inclusive (the “Class Period”). United Technologies investors have until July 11, 2017 to file a lead plaintiff motion.
Investors that suffered losses on their United Technologies investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On July 21, 2015, United Technologies slashed its 2015 earnings forecast, citing weak performances by the Company's UTC Aerospace Systems (“UTAS”) and Otis Elevator Co. (“Otis”) units. United Technologies informed investors that its expectations related to UTAS and Otis were “way too aggressive” and that the Company failed to “dig deep enough” when formalizing the guidance.
On this news, United Technologies’ share price fell more than 7% on July 21, 2015, thereby injuring investors.
According to the complaint filed in this class action lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that United Technologies’ earnings forecast relied on planning assumptions for its UTAS and Otis units that were not fully scrutinized and that were far too aggressive.
If you purchased United Technologies during the Class Period you may move the Court no later than July 11, 2017 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit the website at www.howardsmithlaw.com.
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