Collins Aerospace Parent Raytheon Discloses Criminal Probe Over Financial Accounting In Defense Business

Shares of Raytheon Technologies Corp., parent company of Collins Aerospace, Cedar Rapids’s largest employer, fell nearly 7.5 percent Wednesday after the defense and aviation giant disclosed that its financial accounting is being investigated by the U.S. Department of Justice in a criminal probe.In a filing Tuesday with the U.S. Securities and Exchange Commission, the Waltham, Mass.-based company said it received a criminal subpoena from the Justice Department seeking information and documents related to financial accounting, internal controls over financial reporting and cost reporting at its missiles and defense business since 2009.“We are cooperating fully with the DOJ’s investigation,” the company said in the filing.