NEW YORK, May 15, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of United Technologies Corporation ("United Technologies") (NYSE:UTX) between April 21, 2015 and July 20, 2015. You are hereby notified that a securities class action lawsuit has been commenced in the U.S. District Court for the Southern District of New York. To get more information go to:
http://www.zlk.com/pslra-sb/united-technologies-corporation
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that 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.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.