Creditors of GT Advanced Technologies complained in a bankruptcy court filing that the sapphire company may have gotten too little in its proposed settlement with Apple Inc. over legal claims stemming from a deal to supply sapphire screens, Reuters reported yesterday. GT Advanced's chief operating officer has said in court papers that the iPhone maker pulled a "bait and switch" to force the sapphire maker into a money-losing deal in 2013. GT Advanced shocked investors by filing for bankruptcy in October in a case that was initially shrouded in secrecy due to a confidentiality agreements with Apple. After the bankruptcy filing, Apple agreed to release GT Advanced from the deal and allow it to sell more than 2,000 sapphire furnaces located in Mesa, Arizona. The agreement needs approval by U.S. Bankruptcy Court Judge Henry Boroff, who has been hearing the chapter 11 case in Springfield, Mass.
