The City of Roseville Employees’ Retirement System has filed a class-action complaint alleging that investors in Textron shares were misled by statements about backlogs at Cessna Aircraft. The complaint alleges, “Textron was accepting orders for business
jets from a growing number of customers that were mere start-up and/or financially distressed fleet operators who neither intended to, nor possessed the financial resources to, pay for or take delivery of aircraft during 2008-9 and beyond.”