GT Advanced Technologies Inc fka GTAT

[Double-Down]

The problem AAPL is going to have moving forward are the class actions against GT. Details of the BK will be released in open court if the suits go forward. There’s no way around it. This is why we saw the PR yesterday of GT claiming they would sue AAPL if they could. It sets the table for a defense by putting the onus of BK on AAPL by suggesting GT is a victim. I said from the beginning that AAPL would not allow disclosure, and so far they haven’t. They will do what they need to in order to keep docs sealed. They thought an amazingly favorable deal with GT including $150M in exit financing to pay off other creditors would be enough. It’s not. AAPL is going to do what it takes to make this go away and will chalk the loss up to a learning experience for future deals. That means making GT whole.