Defendant Name: GT Advanced Technologies Inc. 

Defendant Type: Public Company

Document Reference: 2019-66

Document Details

Legal Case Name In the Matter of GT Advanced Technologies Inc.
Document Name SEC Charges Sapphire Glass Manufacturer and Former CEO With Fraud
Document Date 03-May-2019
Document Format Administrative Proceeding
File Number 3-19156
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated: "The Securities and Exchange Commission today charged a New Hampshire-based company and its former CEO with misleading investors about the company's ability to supply "sapphire glass" for Apple's iPhones. The company, GT Advanced Technologies Inc., also is found to have misclassified more than $300 million in debt to Apple that resulted from its repeated failures to meet performance milestones."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order

Related Documents:

33-10636 03-May-2019 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
The SEC stated: "This matter involves accounting misconduct and material misrepresentations by GT Advanced Technologies Inc. (“GT”) in connection the company’s second quarter Forms 10-Q for 2014 concerning a supply contract and debt agreement that GT entered into with Apple, Inc. (“Apple”) in October 2013."

Related Actions:

In the Matter of Thomas Gutierrez
Thomas Gutierrez