“Apple and newly bankrupt GT Advanced Technologies are nearing an agreement over how much of the Silicon Valley titan’s confidential information will be dragged into the light,” Julia Love reports for SiliconBeat.
“In court papers filed Tuesday, lawyers for GT, a materials manufacturer and Apple supplier, asked to push back a key deadline in its bankruptcy case, saying it is closing in on a settlement with the Cupertino-based company,” Love reports. “The firms have been locked in a debate about how much GT can open up about its relationship with Apple as investors press the New Hampshire-based materials manufacturer to explain its surprising filing for Chapter 11 protection earlier this month.”
“‘The parties are on the cusp of a consensual global settlement and the further extension is necessary to allow the parties to continue to discuss certain issues,’ GT lawyer Luc Despins of law firm Paul Hastings wrote in court papers,” Love reports.
Read more in the full article here.
Related articles:
GT Advanced Technologies Inc. suspended by Nasdaq – October 17, 2014
GT Advanced confidentiality hearing with Apple delayed – October 16, 2014
GT Advanced bankruptcy judge challenges Apple’s penchant for secrecy – October 15, 2014
Apple, GT Advanced in secret session with bankruptcy judge – October 9, 2014
Apple supplier GT Advanced: Confidentiality pact rules out bankruptcy explanation – October 9, 2014
Apple ‘surprised’ by GT Advanced’s bankruptcy filing – October 8, 2014
Shattered sapphire dreams at GT Advanced – October 8, 2014
Apple’s withholding of $139 million payment led to GT Advanced bankruptcy filing – October 7, 2014
GT Advanced CEO sold 9,000 shares the day before Apple’s iPhone 6/Plus event – October 7, 2014
Law firms launch investigations into possible violations of federal securities laws by GT Advanced – October 7, 2014
Analyst: Apple may take possession of sapphire furnaces from GT Advanced – October 7, 2014
Apple to provide debtor in possession financing to GT Advanced? – October 7, 2014
Investors stunned over GT Advanced bankruptcy filing – October 7, 2014
GT Advanced files for chapter 11 bankruptcy court protection – October 6, 2014
Apple and GT Advanced rampup sapphire production in Mesa – August 11, 2014
GT Advanced expects sales of sapphire production tools to boost profit; shares surge – August 5, 2014
Apple and GT Advanced open second sapphire plant in Salem, Massachusetts – June 19, 2014
Apple patents method for embedding sapphire displays in LiquidMetal device chassis – May 27, 2014
I put it to m’learned friends that all this might come down to GTA promising a certain yield on sapphire, Apple investing in the production plant and then GTA failing to deliver on said promises.
There’s certainly much more to this than meets the eye…
=:~)
They probably had stipulations on he quality of the sapphire. Documents pertaining to that might need to be kept secret.