NEW YORK, Nov. 1, 2019 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action complaint in the United States District Court for the District of Minnesota, case no. 1:19-cv-02818-PJS-DTS, on behalf of public common shareholders of Raytheon Company, ("Raytheon" or the "Company") (Nasdaq: RTN) who held Raytheon securities as of the record date on September 10, 2019 (the "Class Period"), and have been harmed by Raytheon's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to United Technologies Corporation. ("UTC").
Under the terms of the transaction, Company's shareholders will receive 2.3348 fully paid and nonassessable shares of UTC common stock in exchange for each share of Raytheon common stock they own (the "Merger Consideration"). The complaint alleges that the Merger Consideration is inadequate and that the Proxy Statement contained materially misleading information concerning the financial projections for Raytheon, UTC, and the Combined Company. The Proxy was an essential link in accomplishing the Merger, which undervalued Raytheon and caused Plaintiff and the Class to suffer financial loss in that they did not retain a fair equity stake in the post-Merger Combined Company, and the Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act. The special meeting of Raytheon stockholders to vote on the Merger was held on October 11, 2019.
If you wish to serve as lead plaintiff, you must move the Court no later than December 31, 2019. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: https://www.monteverdelaw.com/case/raytheon-company. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019 an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer.
Contact:Juan E. Monteverde, Esq. MONTEVERDE & ASSOCIATES PCThe Empire State Building350 Fifth Ave, Suite 4405New York, NY 10118United States of Americajmonteverde@monteverdelaw.com Tel: (212) 971-1341
Attorney Advertising. (C) 2019 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
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