Thanks for GTAT coverage
To the editor:
I want to thank you for keeping on the GT Advanced Technologies story.
As you can imagine, I was a modest investor but nonetheless felt the pain of financial loss but more betrayal and shaken confidence in the securities system since the reliability of information from corporate leadership was thrown to the side while those same leaders “cashed out” with at least a feathered nest in case their highly risky play did not come through.
I am hoping the class action suits or other actions will bring light to the contract or agreement that GTAT signed with Apple but never disclosed to shareholders re: confidentiality etc.
No company or individual shareholder should be able to impose a penalty on management or the company for truthful reporting of events and circumstances affecting shareholder value and company performance. Apple’s control over GTAT’s disclosures did just that. While, in my opinion, GTAT management should have kept shareholders first and let the chips fall where they may with Apple (assuming such penalties would be unenforceable if challenged to the SEC) they did not and, yes, shareholders were hurt – more importantly, employees were hurt and confidence in the system of corporate reporting was damaged.
Anyway – there are my two cents, but thank you again for keeping up on this for the reasons stated above. Hopefully down the road your reporting will gain wider recognition.
Hugh A. Curley