The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Hampshire on behalf of purchasers of GT Advanced Technologies Inc. (“GT” or the “Company”) (NASDAQ: GTAT) securities during the period between November 5, 2013 to 9:40 a.m. EDT (when the Company filed for bankruptcy) on October 6, 2014, inclusive (the “Class Period”). The lawsuit has been filed against certain of the Company’s executive officers and directors, as well as the underwriters of the Company’s public offering of 3.00% Convertible Senior Notes due 2020 and GT’s public offering of common stock, both conducted on or around December 4, 2013 (the “Offerings”). Investors who wish to become proactively involved in the litigation have until December 8, 2014 to seek appointment as lead plaintiff. If you have suffered a loss from investment in GT securities purchased on or after November 5, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933. Specifically, the complaint alleges that during the Class Period and/or in the offering materials for the Offerings, defendants misrepresented and/or concealed GT’s cash position, expected cash position and revenues, ability to meet the milestones under a critical agreement with Apple for the production of sapphire material, and the progress that the Company was making developing the facility that would produce the sapphire material. According to the complaint, following the Company’s October 6, 2014 announcement that it was experiencing a liquidity crisis and filed for bankruptcy, the value of GT shares and the GT notes declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.