SEC Charges Sapphire Glass Manufacturer and Former CEO With Fraud

The SEC:

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.

Haven’t thought about these guys in a while.

Friday, 3 May 2019