LOS ANGELES, May 18, 2017 /PRNewswire/ -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against United Technologies Corporation ("United Technologies" or the "Company") (NYSE: UTX) concerning possible violations of federal securities laws between April 21, 2015 and July 20, 2015 inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the July 11, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, during the Class Period, United Technologies issued and reaffirmed 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"). 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. When this news was announced, the Company's stock price dropped materially, which caused investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC