UPDATE: GT Advanced Technologies (GTAT) attorney says consensual accord with Apple reached - Bloomberg

October 21, 2014 4:40 PM EDT
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(Updated - October 21, 2014 5:10 PM EDT)

(Updated - October 21, 2014 4:58 PM EDT)

GT Advanced Technologies (Nasdaq: GTAT) (OTCBB: GTATQ) attorney says consensual accord with Apple (Nasdaq: AAPL) reached. The lawyer calls it an 'amicable parting of ways.' The accord will save millions of dollars and solve most issues.

The agreement will be filed with minor redaction.

UPDATE - The lawyer also said Apple will be paid once furnaces in Arizona are sold. There's one confidentiality accord that remains and no claims against Apple will be made.

The company will also be able to wind down operations and pay incentives to certain employees.



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