NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Veradigm, Inc. (NASDAQ: MDRX) and RTX Corporation (NYSE: RTX). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Veradigm, Inc. (NASDAQ: MDRX)
On February 28, 2023, Veradigm disclosed that it “detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a mis-statement to reported revenues during those periods.” As a result, the Company reported that it expects “a reduction in revenue from continuing operations of approximately $20 million dollars in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022.” The Company added that it is “continuing to evaluate the materiality of the mis-statement to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment.” As a result, Veradigm revised its 2023 guidance downward and announced that it would not be filing its 2022 annual report on time.
On this news, Veradigm’s stock price fell $2.12 per share, or 12.76%, to close at $14.49 per share on March 1, 2023.
For more information on the Veradigm investigation go to: https://bespc.com/cases/MDRX
RTX Corporation (NYSE: RTX)
On July 25, 2023, the Company reported its Q2 earnings which disclosed a “condition” in its Pratt & Whitney jet engine unit. The Company stated, “Pratt & Whitney has determined that a rare condition in powdered metal used to manufacture certain engine parts will require accelerated fleet inspection.” The Company expects a sizable portion of the PW1100G-JM engine fleet will require accelerated removals and inspection within the next nine to twelve months.
For more information on the RTX investigation go to: https://bespc.com/cases/RTX
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.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
