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United Technologies Corporation Message Board

  • airbornetrppervet airbornetrppervet Apr 25, 2014 3:26 PM Flag

    Bad news for one of UTC's best divisions

    SEC probing United Technologies jet engine sales in China • 10:39 AM
    •United Technologies (UTX -1%) discloses that the SEC is investigating one of its non-employee sales reps who sold jet engines in China.
    •UTX says the SEC issued a subpoena seeking documents related to disclosures of sales of its Pratt & Whitney engines and International Aero Engines.
    •UTX says the probe follows its voluntary disclosures to U.S. regulators, which resulted in the company suspending payments to the salesperson, triggering a lawsuit and an arbitration claim.

 
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