GT Advanced Technologies told a bankruptcy court that a settlement with Apple is a necessity, because although it would prefer to sue the iPhone maker, going to court would be too “challenging and expensive” for the company.
GT Advanced told bankruptcy court that its settlement proposal with Apple is a necessity because litigation wouldn’t be a viable solution for the company, according to The Wall Street Journal. In its filings, GTAT continues to paint a picture where it is under the thumb of Apple, noting that “protracted litigation against one of the largest corporations in the world with over $100 billion of cash would be challenging and expensive.”
GT Advanced told the court that it believes it could win in court against Apple, accusing the Cupertino firm of engaging in “inequitable conduct” that “resulted in an injury to creditors or conferred an unfair advantage on Apple.”
While GT contends it has been wronged by Apple, the company also believes the cost of fighting Apple in court would be prohibitive.
While Apple said last week that it would “continue evaluating GTAT’s progress on larger sapphire boule development,” GT Advanced says it has plans to exit the sapphire production business entirely.
