United Technologies Corporation
| Company Name | United Technologies Corporation |
| Stock Symbol | UTX |
| Class Period | April 21, 2015 to July 20, 2015 |
| Lead Plaintiff Motion Deadline | July 11, 2017 |
| Court | United States District Court for the Southern District of New York |
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.
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