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US: Financial details unveiled in Silicon Valley hiring settlement

By  |  April 25, 2014

Financial details have emerged surrounding the settlement reached between thousands of Silicon Valley tech employees and conglomerates including Apple and Google, say reports.

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    The defendants in the class action, Apple, Google, Adobe and Intel, have reportedly agreed to settle the case for $324 million in damages. The companies were sued by the employees on charges of illegal non-poaching agreements made to not compete for each others’ employees.

    The plaintiffs argued the agreements unfairly kept wages artificially low. The class had originally sought $3 billion in damages, which could have been tripled to $9 billion.

    News of the settlement emerged late last week.

    Full content: Economic Times of India

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