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The filed complaint alleges that Otis Worldwide Corporation made materially false and/or misleading statements and/or failed to disclose that: On July 23, 2025, Otis reported its second quarter fiscal 2025 earnings, unveiling net sales for the quarter of $3.6 billion that fell below analysts’ expectations for $3.71 billion. Management noted that new-equipment sales declined 10%, worse than the market feared, in the quarter, triggering the company to reduce their annual guidance from $14.6 – $14.8 billion down to $14.5 – $14.6 billion in the second quarter. While the Company largely blamed the setback on challenges in China, in which new equipment sales fell 20% in the quarter, declines were also seen in the Americas and Asia Pacific. Following this news, Otis’ stock price fell by $12.79 per share to open at $88.20 per share.
In order to be eligible to join the OTIS class action lawsuit, you must have incurred a loss on shares of Otis Worldwide Corporation purchased during the class period listed above.
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