Raytheon Sinks After Disclosing U.S. Probe of Defense Books
- Justice Department demands records from missile business
- Company tells investors it expects outcome to be immaterial
Photographer: Steven E. Frischling/Bloomberg
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Raytheon Technologies Corp. fell after the company disclosed a demand from the U.S. Department of Justice for records dating back more than a decade from the company’s missile business.
The criminal subpoena was dated Oct. 8 and Raytheon is cooperating, according to a company regulatory filing Tuesday. Federal prosecutors are seeking documents and information in a probe of accounting and other reporting matters within Raytheon’s Missiles & Defense business since 2009, according to the filing.