It’s settled, GT Advanced Technologies Inc has reached an agreement with Apple Inc. According to a statement from GT, they would be released from all exclusivity obligations under its various agreements with Apple. While GT will retain ownership of all production assets from Mesa, they will recover Apple $439 million pre-payment made to GT over … Read more
The details have been sparse, but today we finally found out GT Advanced Technologies’ (GTAT) fate. GTAT’s attorney stated earlier today that the split is an ‘amicable parting of ways,’ and that the accord will save millions of dollars and solve most issues. Related: GTAT cuts hundreds of jobs from Arizona employees GTAT’s attorney also disclosed … Read more
The drama continues between GT Advanced Technologies and Apple as we’re all reminded that secrets really aren’t that fun. As we probe into GTAT’s court case, attempting to unveil the secrets within, reports reveal that Apple will slap you with a hefty fine of upwards to $50 million if you disclose confidential matters. To recap, GTAT … Read more
New information has emerged surrounding GT Advanced Technologies recent chapter 11 filing. GTAT is seeking approval from a judge to wind down its production of sapphire glass, which could result in a loss of hundreds of Arizona jobs. The bankruptcy filing started when information became public that Apple only paid four out of five advances, but … Read more
GT Advanced Technologies Inc., announced today that it had commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. GT expects the court will authorize the company to continue to conduct business as usual while it devotes renewed efforts to resolve its current … Read more