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INVESTOR ALERT: Class Action Lawsuit against GT Advanced Technologies Inc. Announced by Law Offices of Howard G. Smith
[October 28, 2014]

INVESTOR ALERT: Class Action Lawsuit against GT Advanced Technologies Inc. Announced by Law Offices of Howard G. Smith


BENSALEM, Pa. --(Business Wire)--

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of New Hampshire on behalf of purchasers of the securities of GT Advanced Technologies Inc. ("GT Advanced" or the "Company") (NASDAQ:GTAT), between November 4, 2013 and October 3, 2014, inclusive (the "Class Period"). Investors who have losses of $1 million or more are encouraged to contact the firm for more information.

GT Advanced provides materials and equipment for the global consumer electronics, power electronics, solar and LED industries worldwide. The Complaint alleges that defendants misrepresented and/or failed to disclose that the Company's sappire display would not be used in the new Apple (News - Alert) iPhone 6 devices, the Company did not have sufficient cash on hand to satisfy its customary obligations for daily operations and, as a result of the foregoing, defendants' statements about the Company's business, operations and prospects were false and misleading and/or lacked a reasonable basis.



On September 9, 2014, Apple, Inc. revealed that its new iPhone 6 and iPhone 6 Plus smartphones featured Corning's (News - Alert) Gorilla Glass, instead of GT Advanced's sapphire cover as many investors were expecting. Then, on October 6, 2014, the Company announced that GT Advanced was filing for bankruptcy protection under Chapter 11. As a result of this news, the price of GT Advanced shares dropped $10.25, or nearly 93%, to close at $0.80 per share on October 6, 2014, on unusually heavy volume.

If you are a member of the Class described above, you have until December 8, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you suffered losses of $1 million or more and wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.



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