GT Advanced Gets Court Approval of Revised Apple Accord
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Bankrupt GT Advanced Technologies Inc. won approval of a settlement with Apple Inc., preventing costly litigation by granting the iPhone maker $439 million in claims against furnaces at a synthetic sapphire plant.
U.S. Bankruptcy Judge Henry Boroff said at a hearing today in Springfield, Massachusetts, that he would sign an order approving a revised settlement agreement. During a break in the hearing, GT Advanced and Apple made changes addressing concerns the judge raised.