GTAT Securities Litigation

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Levy v. Gutierrez, et al., United States District Court for the District of New Hampshire, Case No. 1:14-cv-00443-JL (GTAT Securities Litigation) (the "Action").

Overview

Court-appointed Lead Plaintiff Douglas Kurz and plaintiff Palisade Strategic Master Fund (Cayman) Limited, on behalf of themselves and the Court-certified Class, have reached a settlement with defendant Apple Inc. (“Apple”) for $3.5 million in cash (the “Apple Settlement”), which was finally approved by the Court on August 27, 2020. The Apple Settlement is in addition to two other partial settlements with the GTAT Individual Defendants and Underwriter Defendants previously approved by the Court in July 2018 totaling $36.7 million in cash (the “Earlier Settlements”), resulting in an aggregate recovery in this Action of $40.2 million in cash.

The Class consists of:

all persons and entities who or which from November 5, 2013 through 9:40 a.m. Eastern Standard Time on October 6, 2014, inclusive (the “Class Period”) purchased or otherwise acquired publicly traded GTAT common stock (“GTAT Common Stock”) and/or publicly traded GTAT 3.00% Convertible Senior Notes Due 2020 (“GTAT Senior Notes”), purchased or otherwise acquired publicly traded call options on GTAT common stock (“GTAT Call Options”), and/or sold (wrote) publicly traded put options on GTAT common stock (“GTAT Put Options”), and were damaged thereby.


On February 20, 2020, pursuant to the Order Approving Distribution Plan, payments from the Net Settlement Funds recovered from the Earlier Settlements were made to all Authorized Claimants whose claims were approved by the Court for payment subject to the requirements set forth in the Order. Authorized Claimants whose distribution amounts were less than the $10.00 threshold requirement did not receive a payment.

If you previously submitted a valid Claim Form and were eligible to participate in the Earlier Settlements, you did not need to take any further action to be eligible to participate in the Apple Settlement. However, if you did not previously submit a valid Claim Form, in order to be eligible to participate in the Apple Settlement, you must have submitted one, postmarked no later than June 29, 2020.

Payments from the Net Apple Settlement Fund will be made after the processing of additional claims received by the Claims Administrator is completed. Please be patient, as this process will take some time to complete.


Important Deadline Regarding The Apple Settlement:
June 29, 2020
Claim Filing Deadline
If you previously submitted a valid Claim Form and were eligible to participate in the Earlier Settlements, you did not need to take any further action to be eligible to participate in the Apple Settlement. However, if you did not previously submit a valid Claim Form, in order to be eligible to participate in the Apple Settlement, you must have submitted a Claim Form, postmarked no later than June 29, 2020.

Apple Settlement Notice

Court-Approved Plan of Allocation

Proof of Claim and Release Form

  • Claim Form No Longer Available

Other Court Documents

Learn more about the Settlements by downloading the documents below.

Electronic Filing Instructions

    Institutions filing on their own behalf or on behalf of multiple clients should submit their claim information electronically. Please click on the links below to obtain the mandatory electronic filing requirements and file layout.

  • Electronic Filing Instructions
  • Electronic Filing Template

Contact Us

GTAT Securities Litigation c/o Claims Administrator P.O. Box 10463 Dublin, OH 43017-4063 (866) 562-8790

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Class Counsel

As a Class Member, you will be represented by Lead Counsel, who is: Lauren A. Ormsbee, Esq. BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, 1251 Avenue of the Americas, 44th Floor New York, NY 10020 (800) 380-8496