Case Page

 

Case Status:    ONGOING    
On or around 03/22/2016 (Ongoing date of last review)

Filing Date: October 17, 2014

According to the law firm press release, the Complaint alleges that during the Class Period, Defendants misrepresented and/or concealed the Company's (i) cash position; (ii) expected cash position and revenues; (iii) ability to meet the milestones under a critical agreement with Apple for the production of sapphire material; and (iv) the progress that the Company was making developing the facility that would produce the sapphire material.

On October 6, 2014, the Company announced that it was experiencing a liquidity crisis and filed for bankruptcy in the United States Bankruptcy Court for the District of New Hampshire. On this news, the price of the Company stock declined from $11.05 per share to $0.80 per share, or almost 93%. Similarly, the price of the Company's 3.00% Convertible Senior Notes due 2020, which had a face value of $1,000 per note, declined from $1,083 per note to $315 per note, or almost 71%.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GTAT
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Hampshire
DOCKET #: 14-CV-00460
JUDGE: Hon. Joseph N. Laplante
DATE FILED: 10/17/2014
CLASS PERIOD START: 11/05/2013
CLASS PERIOD END: 10/06/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gainey McKenna & Egleston
    440 Park Avenue South, 5th Floor, Gainey McKenna & Egleston, NY 10016
    212.983.1300 212.983.0380 ·
  2. Hage Hodes, PA
    1855 Elm Street, Hage Hodes, PA, NH 03104
    (603) 668-2222 (603) 641-6333 ·
No Document Title Filing Date
COURT: D. New Hampshire
DOCKET #: 14-CV-00443
JUDGE: Hon. Joseph N. Laplante
DATE FILED: 07/20/2015
CLASS PERIOD START: 11/05/2013
CLASS PERIOD END: 10/06/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Bernstein Litowitz Berger & Grossmann LLP (New York, NY)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (New York, NY), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  3. Lockridge Grindal Nauen P.L.L.P.
    100 Washington Avenue S. Suite 2200, Lockridge Grindal Nauen P.L.L.P., MN 55401
    612.339.6900 612.339.6900 ·
No Document Title Filing Date