Investor Sues United Technologies Board Over China Exports

Law360, Wilmington (November 6, 2012, 3:43 PM EST) -- A United Technologies Corp. shareholder has launched a derivative suit against the defense contractor's board claiming it allowed, and then tried to conceal, the export of military technology to China that resulted in a $55 million civil penalty against the company, according to documents made public Monday.

Filed under seal in Delaware Chancery Court on Nov. 1., the complaint accuses current and former UTC directors of breaching their fiduciary duty to the Connecticut-based company by failing to prevent and properly disclose the sale of engine technology...
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