The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the U.S. District Court for the Southern District of New York on behalf of investors who purchased United Technologies Corporation (“United Technologies”) (NYSE: UTX) securities between April 21, 2015 and July 20, 2015.
According to the complaint, throughout the Class Period, defendants issued materially false and/or misleading statements by issuing and reaffirming unfounded and 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”). Defendants’ Class Period representations were materially false and misleading because Defendants failed to disclose or indicate that United Technologies’ earnings forecast relied on planning assumptions for the UTAS and Otis units that were not fully scrutinized and were far too aggressive. On July 21, 2015, the Company cut its 2015 earnings guidance on the basis of weak performance by the units.
If you suffered a loss in United Technologies you have until July 11, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.