GT Advanced Technologies Inc fka GTAT

[twksk8]

Stupid hit piece. All points made moot by today's court filings and disclosures. Furnaces not involved (worst case need a clean up) inspection stations were damaged which means near term payout to GTAT.

Amen.

What I understood from everything was that the insurance co. already agreed to pay an initial amount and would be paying towards that in the VERY near future... GTAT's estimate of minimal damage was on the analysis and inspection equipment, not the actual ASF furnaces. This piece makes it sound like they were trying to pull a fast one. Furthermore, they were just wanting to cover themselves in case future damages were discovered. That's the whole purpose of insurance, especially in the case of a fire or something destructive (non-theft) like this.