Friday, May 3, 2019
Apple’s Failed Sapphire Glass Supplier GT Advanced Charged With Misleading Investors
The SEC today announced it has charged GT Advanced Technologies and its former CEO Thomas Gutierrez with misleading investors about the company’s ability to supply sapphire glass for iPhones. The company is also found to have misclassified more than $300 million in debt to Apple. In the fall of 2013, Apple agreed to advance $578 million in four installments to GT in exchange for sapphire glass 
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