The member of the stock Exchange, u.s. accuses GT Advanced, the supplier will forfeit synthetic sapphire

At the time Apple was stroking the idea of protecting the screen of its iPhone with a synthetic sapphire, the manufacturer has invested over half a billion dollars in GT Advanced Technologies. The company specialized in the manufacturing of this coating is nearly impossible to scratch it is proposed to provide its production to the manufacturer, that it meets a high level of quality.

A ball of synthetic sapphire produced by GT Advanced.

The agreement, which dated back to the fall of 2013, consisted of a payment in four tranches, for a total of $ 578 million. In April 2014, Apple was suspending the payment of the last tranche ($139 million), due to the inability of GT Advanced to meet the specifications of the Apple.

But here it is : during the results for the second quarter of the same year, Thomas Gutierrez the former CEO of GT Advanced has assured shareholders that the company had indeed reached the goals set by its main customer, which has allowed him to touch it, in October, the cheque of Apple corresponding to the fourth tranche of the payments. Shortly after, and to the general surprise, GT can be placed under the protection of the u.s. bankruptcy code.

The factory in Mesa.

The company has rebounded subsequently, Apple has retrieved the factory in Mesa (Arizona), for the transform in the data center (not without having suffered a fire a few months later). The screen of the iPhone has never had the right to a coating of synthetic sapphire : only the camera on the back benefits, as well as the Apple Watch made of stainless steel.

The story has not stopped there, however. The SEC has not enjoyed the entourloupe Thomas Gutierrez. The member of the stock Exchange of the us, has investigated on his remarks just prior to the bankruptcy. The former leader, as well as the company is formally accused of having lied to investors about their ability to supply synthetic sapphire to Apple. WG has also attempted to hide more than $ 300 million debt to Apple.

Thomas Gutierrez has already paid $ 140,000 in fines in this folder, but clearly things are far from over.