Los Angeles, CA: A $415 million settlement has received preliminary approval ending a closely watched antitrust class action lawsuit filed by tech workers in Silicon valley. The lawsuit alleged that Apple Inc., Google Inc., Intel Corp., and Adobe Systems Inc., conspired to refrain from poaching each other' employees thereby limiting job mobility and, consequently, keeping salaries at a standstill.
The antitrust class action lawsuit was filed in 2011, and was based largely on emails in which Apple co-founder Steve Jobs, former GoogleChief Executive Officer Eric Schmidt and some of their rivals detailed plans to avoid poaching each other's prized engineers.
Nearly 64,000 workers are affected by the case. They accused the companies of a corporate conspiracy to make it difficult for tech workers to negotiate better jobs at rival companies.
Judge Lucy Koh, who is hearing the case, said she was satisfied this week after the companies increased their earlier offer of $324.5 million.