April 24, 2024 11:15 pm
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Feds investigating failed Apple Mesa plant, GT operator says

SECGT Advanced TechSapphire materials maker GT Advanced Technologies, which filed for Chapter 11 bankruptcy reorganization in October, said Thursday that the Securities and Exchange Commission has opened an inquiry into its business, reports AP.

The company, which was planning to open a production plant in Mesa, Arizona, said the SEC is looking into trading in its securities, its sapphire business, and securities offerings going back to Jan. 1, 2013. The agency is asking the Merrimack, New Hampshire, company for documents. GT said it is cooperating with the SEC.

The company filed for bankruptcy reorganization on Oct. 6. It says the SEC sent a letter on Oct. 15 saying it was conducting the inquiry.

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