SEC Opens Inquiry Into Apple Supplier GT Advanced
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GT Advanced Technologies Inc., the Apple Inc. supplier seeking bankruptcy protection, is now facing a U.S. Securities and Exchange Commission inquiry on trading in its shares as the company approached bankruptcy.
The SEC inquiry, disclosed in a filing yesterday, could reveal what GT Advanced’s executives knew as they sold shares and struggled to fulfill a contract with Apple to deliver scratch-resistant sapphire glass for iPhones. The company is cooperating with the request for information, according to the filing.