NEW YORK: Apple, Google, Intel and Adobe Systems companies in the Silicon Valley agreed to pay 64,000 current and former employees $415 million to settle a class-action suit related to violation of antitrust laws on poaching each other’s employees.
The lawsuit alleged that Apple Inc. (AAPL: Quote) and Google, Inc. (GOOG: Quote, GOGL) Intel Corp. (INTC: Quote) and Adobe Systems Inc. (ADBE: Quote) conspired not to hire each other’s employees, a move that will not provide the employees the bargaining power for an increase in wages.
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The class-action was bought up in 2011 by about 64,000 current and former employees. The trial was scheduled to begin on April 10.
The case was primarily filed based of emails of late Apple’s co-founder Steve Jobs, former Google CEO Eric Schmidt and some others that revealed plans to avoid hiring each other’s prized employees.
