“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.
Related articles:
GT Advanced says Apple settlement will survive unsealing – November 5, 2014
Judge orders GT Advanced bankruptcy papers unsealed – October 30, 2014
Apple and GT Advanced: What went wrong – October 29, 2014
Beleaguered GT Advanced describes ‘unsustainable’ Apple relationship – October 29, 2014
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
Apple considering other options for Arizona sapphire facility, helping former GT Advanced employees find new jobs – October 23, 2014
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
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
Trading activities for sure but how about fraudulent quarterly reports and future projective?
Looks like a duck, walks like a duck, sounds like a duck………
An ugly ducking that ain’t gonna turn into a swan any time soon.
This was a con job, not a simple deal gone bad.
Nail the bastrads they knew all along
Craigslist: Merrimack: 2014 Bentley Mulsanne! Must sell immediately! Priced to move! Make offer!
No, this isn’t spam! 😆 😆
~~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.’