Apple, GT Advanced near settlement over secrecy

“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.

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2 Comments

  1. 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…

    =:~)

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