NEW YORK, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Sequential Brands Group, Inc. (NASDAQ: SQBG) and Raytheon Technologies Corporation (NYSE: RTX) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Sequential Brands Group, Inc. (NASDAQ: SQBG)
Bragar Eagel & Squire is investigating certain officers and directors of Sequential Brands following recent news on the Company.
On December 11, 2020, the SEC issued a press release titled “SEC Charges Sequential Brands Group Inc. with Deceiving Investors by Failing to Timely Impair Goodwill.” According to the press release, “by avoiding an impairment to its goodwill in 2016, Sequential inflated its income from operations, created a false impression of its financial condition, and misstated its financial statements and reports for almost a year.”
Based on this news, shares of Sequential dropped sharply on the same day, to close at $16.20 per share.
Raytheon Technologies Corporation (NYSE: RTX)
Bragar Eagel & Squire is investigating certain officers and directors of Raytheon Technologies Company following a class action complaint that was filed against Raytheon on October 30, 2020.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Raytheon had inadequate disclosure controls and procedures and internal control over financial reporting; (2) Raytheon had faulty financial accounting; (3) as a result, Raytheon misreported its costs regarding Raytheon's Missiles & Defense business since 2009; (4) as a result of the foregoing, Raytheon was at risk of increased scrutiny from the government; (5) as a result of the foregoing, Raytheon would face a criminal investigation by the U.S. Department of Justice (“DOJ”); and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.