U.S. SEC opens investigation into Apple supplier GT Advanced

“GT Advanced Technologies Inc. (GTATQ), the Apple Inc. (AAPL) supplier seeking bankruptcy protection, said it’s cooperating with a U.S. Securities and Exchange Commission inquiry into the company,” Tim Higgins reports for Bloomberg.

“The SEC is seeking information about trading activity and the company’s sapphire glass business, Merrimack, New Hampshire-based GT Advanced said in a filing today,” Higgins reports. “Apple will get an approved claim for $439 million secured by the furnaces. GT Advanced will have up to four years to sell them, with proceeds going to Apple.”

Higgins reports, “Apple will also release all claims against GT Advanced, including damages that ‘would total in excess of $1 billion,’ according to court papers.”

Read more in the full article here.

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Apple and GT Advanced: What went wrong – October 29, 2014
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Beleaguered GT Advanced says it can’t afford to fight mighty Apple, must settle – October 28, 2014
Apple ponders future sapphire options, leaves door open for GT Advanced – October 23, 2014
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GT Advanced announces settlement with Apple; to exit sapphire production – October 23, 2014
Apple and GT Advanced settlement: Ending the madness – October 22, 2014
GT Advanced, Apple ink deal for ‘amicable’ split-up – October 21, 2014
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
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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
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GT Advanced files for chapter 11 bankruptcy court protection – October 6, 2014

7 Comments

  1. ~~I’m getting bored with these characters.
    ~~What this soap opera needs is a federal investigation.
    And right on cue…

    Ladies and Gentlemen: Please welcome in the cast of The SEC!
    🙏 🙌 🙏 🙌 🙏
    …As we enjoy another exciting episode of… ‘As The Sapphire Turns.’

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