Raytheon Defeats Investor Suit That Blamed Stock Drop on Fraud

Raytheon Technologies Corp. investors brought their theories about the aerospace company’s alleged government contracting misconduct into “sharper focus” but still failed to adequately support them, a federal court ruled.

The latest version of the investors’ complaint suffers from many of the same problems as the previous ones, Judge John C. Hinderaker said Thursday for the US District Court for the District of Arizona. Hinderaker dismissed the proposed class action with finality.

Raytheon’s announcement of a Justice Department probe in October 2020 is at the heart of the securities litigation. The announcement allegedly set off a stock-price decline.

The stockholders, in ...