US: Steve Jobs seen as ‘walking antitrust violation’ in wake of Silicon Valley suit
The legacy of Apple founder Steve Jobs is again in question in the wake of news that various technology companies, including Apple, reached a settlement only days ago over allegations by employees that the companies colluded to make non-poaching agreements, keeping wages artificially low.
Antitrust guru Herbert Hovenkamp, a professor of the University of Iowa College of Law, called Jobs “a walking antitrust violation,” and other competition policy experts agree that Jobs seems to have ignored antitrust law altogether.
Not only was Apple the subject of a non-poaching case, both by the US Department of Justice and an employee class action, but the company is also facing thousands in potential damages from state lawsuit after a federal judge found Apple had conspired with eBook publishers to keep prices down.
An earlier case lead to an internal investigation within the company over allegations of a backdating scandal; in that case, five other executives of other firms went to prison for the scheme, though Jobs was never implicated.
The various antitrust disputes surrounding Apple show, according to reports, how “the difference between genius and potentially criminal behavior can be a fine line.”
Full content: NYTimes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI