GT Advanced Technologies Inc., the parent of the famous GTAT Corporation, has entered a settlement agreement with the Securities and Exchange Commission (“SEC”). The agreement is related to an investigation into events that have to do with the Company’s bankruptcy filing in the year 2014. The Company is open to the conclusion of this matter and this allows it to focus its efforts on its on-going business.
Michèle Rayos, the Company’s Vice President and Chief Financial Officer since November of 2017, said “the Company is committed to operating its business with the upmost integrity and in compliance with all applicable laws and regulations including those relating to record keeping and financial reporting. We have implemented and continue to review our internal controls to ensure best practices in this area.”
Greg Knight, the Company’s Chief Executive Officer and President since September of 2016 (just after its emergence from bankruptcy earlier that year), said “we are pleased to have the investigation behind us, allowing us to focus all our efforts into expanding the availability and use of silicon carbide and sapphire into current and future markets. Our technical expertise in crystal growth technologies enables us to be a game changer in advanced materials and we are dedicated to continually improving our products while exploring new opportunities. We believe that we will make a difference in the markets that we serve.”
GT Advanced Technologies Inc. is a company which is privately held.
GTAT Corporation is a diversified technology company which produces innovative crystal growth technology and advanced materials, across a diversified set of global markets.