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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.

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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