December 12, 2014
The Law360 article “Apple Defends $439M GTAT Pact, Fires Back At Creditors” discusses Apple Inc.’s response to claims that its $439 million settlement with bankrupt GT Advanced Technologies Inc. is unfair. The tech giant argued that the settlement provides real and significant value by waiving billions of dollars accrued from GTAT’s failure to produce sapphire screens, which would protect the products from scratching. GTAT objected to the deal, claiming that it needs to address the allegations of Apple’s anti-competitive conduct and problems that drove the company to file for Chapter 11 bankruptcy. The creditors committee corroborated the opposition, saying the agreement is overly generous to Apple. Partner Jim Carr and special counsel Jason Adams are mentioned as counsel to GT Advanced Technologies Inc.’s creditors committee.
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