SEC investigating GT Advanced's trading activity leading up to bankruptcy filing
GT Advanced revealed today that the SEC is investigating the trading activity of the former Apple partner. The news comes through a recent filing that the sapphire glass manufacturing made in which it details a letter it received from the SEC on October 15th seeking information about trading activity dating back to January 1, 2013.
The reason for the inquiry is presumably centered around the large amount of stock that GT Advanced's CEO and COO unloaded in the months leading up to the company declaring bankruptcy.
This filing follows a spate of new details that have been revealed in the wake of a bankruptcy judge ordering GT Advanced's bankruptcy papers unsealed. The lastest to come out of the saga is that the manufacturer agreed to pay Apple up to $290,000 for each sapphire furnace sold at auction.
Source: GT Advanced via 9to5Mac
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