settlement Stories December 15, 2014

New settlement in GT Advanced bankruptcy case gives supplier more time to sell equipment

The Wall Street Journal reported today that Apple and GT Advanced Technologies have reached a settlement in their ongoing bankruptcy case. The settlement, which was approved by the courts earlier today, gives the sapphire supplier up to four years to sell its current stock of sapphire production equipment in order to repay Apple.

The two companies previously went head-to-head over who should be considered responsible for the complete failure of the partnership, with GT blaming Apple for making demands the company couldn’t meet while blocking any other contracts GT may have wanted to accept. Apple, on the other hand, blames GT for accepting a contract and then failing to provide the agreed-upon product.

settlement Stories November 21, 2014

Following preliminary approval it received in August, Apple has been granted the final court approval it needed in its $450 million ebook settlement, according to a Reuters report.

During a hearing in Manhattan, U.S. District Judge Denise Cote approved what she called an “unusual” accord. It calls for Apple to pay $400 million to as many as 23 million consumers if the company’s appeal of a ruling finding it liable for antitrust violations is unsuccessful.

U.S. District Judge Denise Cote previously expressed concern over the proposed settlement citing a clause in the agreement that she called “most troubling”, but today called the settlement agreement “within the range of those that may be approved as fair and reasonable.” expand full story

settlement Stories November 19, 2014

In the aftermath of GT Advanced filing for Chapter 11 bankruptcy protection, the sapphire maker reached a $439 million settlement with Apple in which the supplier will repay the iPhone maker up to $290,000 per furnace sold. GT Advanced creditors aren’t happy with the proposed settlement, however, arguing that the sapphire company may have received too little in the deal. expand full story

settlement Stories November 4, 2014

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GT Advanced announced this afternoon that it has reached an amended settlement agreement with Apple related to the sapphire crystal glass manufacturer’s recent bankruptcy filing, in which both parties have agreed to waive the condition that GT Advanced’s declaration on October 8th remain under seal and expunged. Meanwhile, GT Advanced has filed a Form 8-K with the U.S. Securities and Exchange Commission that provides further details about the recent fallout between Apple and GT Advanced. expand full story

settlement Stories June 16, 2014

Apple settled out of court in the latest e-books price-fixing suit brought against the company, allowing the company to dodge an $840 million bullet, as reported by Bloomberg. The case, brought against the Cupertino company by multiple states and consumers, was set to go before a jury next month, but that will no longer be necessary.

The terms of the settlement have not yet been revealed, and the opposing sides of the case have one month to request formal acceptable of their agreement by the court.

expand full story

settlement Stories August 2, 2013

Apple calls DOJ ebooks remedy proposal ‘draconian and punitive’

Following the Department of Justice’s proposed settlements for the iBooks court case, Apple has submitted a response to the court that clearly shows the company is in no way interested in the suggested changes. The 31 page document is summarized quite well by the initial introduction:

Plaintiffs’ proposed injunction is a draconian and punitive intrusion into Apple’s business, wildly out of proportion to any adjudicated wrongdoing or potential harm. Plaintiffs propose a sweeping and unprecedented injunction as a tool to empower the Government to regulate Apple’s businesses and potentially affect Apple’s business relationships with thousands of partners across several markets. Plaintiffs’ overreaching proposal would establish a vague new compliance regime—applicable only to Apple—with intrusive oversight lasting for ten years, going far beyond the legal issues in this case, injuring competition and consumers, and violating basic principles of fairness and due process. The resulting cost of this relief—not only in dollars but also lost opportunities for American businesses and consumers—would be vast.

Here is the response in its entirety (via TNW):

 

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