NEW YORK, NY / ACCESSWIRE / June 16, 2017 / Pomerantz LLP is investigating claims on behalf of investors of United Technologies Corporation (“United Technologies” or the “Company”) (NYSE: UTX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether United Technologies and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 21, 2015, United Technologies cut its 2015 earnings guidance, citing weak performance by the Company’s UTC Aerospace Systems (“UTAS”) and Otis Elevator Co. (“Otis”) units. On a related earnings conference call, the Company’s officers advised investors that, in their view, the assumptions relating to UTAS and Otis that had formed the basis of the earnings guidance were “way too aggressive” and that United Technologies did not “dig deep enough” when setting the guidance.
On this news, United Technologies’ share price fell $7.77, or 7.03%, to close at $102.71 on July 21, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP