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United Technologies Corporation

A class action lawsuit has been filed in the United States District Court for the Southern District of New York against United Technologies Corporation ("United Technologies" or the "Company") (NYSE:UTX), and certain of its senior executives (collectively, "Defendants"), on behalf of investors who purchased or otherwise acquired United Technologies securities during the period from April 21, 2015 through July 20, 2015 (the "Class Period"). The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), and U.S. Securities and Exchange Commission ("SEC") Rule 10b-5 promulgated thereunder.

United Technologies is a manufacturer and servicer of high-technology products, including aircraft components, elevators, escalators, air-conditioning units, and military-missile systems.

The lawsuit alleges that during the Class Period, Defendants violated provisions of the Exchange Act 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 UTAS and Otis units. In reaction to these revelations, UTX stock fell from $119.14 to $102.71 per share, damaging investors.

If you acquired United Technologies securities during the Class Period, you may, no later than July 11, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former United Technologies shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

United Technologies Corporation Contact Form



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Ira M. Press


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